Wegagen Capital Investment Bank (WCIB) has concluded its first full year of commercial operations with a profit before tax of 46.6 million Birr. This result marks a turnaround from the 14.4 million Birr loss recorded during the bank's initial period, according to its annual report presented at the second annual general assembly in Bishoftu.
The performance exceeded the bank's internal target of 41.5 million Birr by 12 percent. Total revenue for the fiscal year reached 140.99 million Birr, a significant increase from the 7.99 million Birr reported in the previous year when operations had just commenced. This growth highlights the expanding role of the bank sector in Ethiopia's evolving financial landscape.
Advisory services served as the primary revenue driver, accounting for 89.89 million Birr or 63.8 percent of total income. Net interest income contributed 43.98 million Birr, while brokerage commissions added 6.85 million Birr. Operating expenses for the year totaled 89.56 million Birr, with staff salaries and benefits representing the largest expenditure at 63.1 million Birr.
According to CEO Brutawit Dawit Abdi, the bank successfully executed 22 advisory mandates with a combined transaction value of 175.3 million Birr. The firm also assisted three banks in obtaining Registration Statement approvals from the Ethiopian Capital Markets Authority (ECMA).
The bank's brokerage arm saw growth in client engagement, opening 3,850 trading accounts. Total securities trading turnover facilitated through the bank reached 2.69 billion Birr, primarily driven by rights issues totaling 2.22 billion Birr, alongside transactions involving Treasury bills and initial or follow-on public offerings.
As of June 30, 2026, the bank's total assets stood at 457.02 million Birr, with total equity reaching 418.5 million Birr. The company's paid-up share capital was recorded at 385 million Birr.
The performance of investment banking entities like WCIB remains a key indicator for Ethiopia's evolving financial landscape. As the Ethiopian Securities Exchange (ESX) continues to develop, investment banks are increasingly vital for facilitating investment and providing advisory services for entities navigating the country's maturing regulatory environment. For those tracking the broader market, data intelligence and performance metrics remain essential for evaluating the health of the financial sector.
ABAYB1325
AWAB2480
BOAX1750
GDAB1309.01
TELE465
WGBX1350
