Wegagen Bank which is believed to be the money laundering agency for TPLF is now slowly inching towards bankruptcy and eventual closure.
The bank was listed as one of the top three profitable banks just three years ago when TPLF was the shaker and maker of the looting business. "The Bank wasn't also able to mobilise deposits as it expected, and as a result, it couldn't give loans as planned." This shows that people are running away from this bank to take their deposits elsewhere.
The total expenses of Wegagen expanded. Interest paid to savings soared by 37pc to one billion Birr due to expanding deposits. Salaries and benefits increased by 17pc to 794.2 million Br, and general administration expenses went up by 10pc to 569.5 million Br.
https://addisfortune.news/wegagen-banks ... re-shrink/
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Za-Ilmaknun
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