Wegagen Bank's increase of 44.7pc in profit after tax saw an increase of Earnings per Share (EPS) by 17.9pc from 380 Br to 448 Br per share in2010/11 fiscal year. Following this announcement, shareholders of the bank approved a cash dividend amounting 37.3 million Br at the 18th general assembly meeting held at Hilton Hotel on November 5, 2011.
During the assembly the bank held election of board of directors for which Sebehat Nega, veteran TPLF leader, was elected with the majority of the votes around 260,000. He was elected along with other eight, seven of whom were in the running as a private share holder like Sebhat. Berhane Kidanemariam was elected representing the Endowment Fund For Rehabilitation of Tigray (EFFORT).
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