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Global Insurance Company’s (Ethiopia) profit before tax for 2023/2022 fiscal year stood at 85.3 million birr while it’s net profit reached 67.1 million birr, increasing by 19 million birr. The earning per share (EPS) showed a small increment increasing from 145 to 150. The company managed to increase it’s assets to 821.1 million birr. Global Insurance Company’s paid up capital reached 196 million birr.
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The Profit before income tax for United Insurance Company (UNIC) showed a growth of 89% to reach Birr 390.7 million. Earnings per share (EPS) grew from 37% to 47.9%, showing a respectable growth. The Company’s Paid-up Capital had grown by 68%, from Birr 499.2 million to Birr 840.5 million.
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Zemen Insurance Share Company (ZISC) earned 45.9 million birr profit before and after tax for 2023/2022 fiscal year, increasing it’s Earning per share (EPS) from 1.8% to to 31.74%. Paid-up capital reached birr149.3 million which grew by 14%.
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During 2022/23 fiscal year, the company registered a gross profit of Birr 59.39 million. This profit amount is 14.43% under the targeted Birr 69.4 million profit and 31.7% over last year profit of Birr 45.08 million. The Net profit of the bank reached 57.4 million birr which raised the Earning per share (EPS) from last year’s amount of 20.13 to 26.34%.
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In a year which marks the Bank’s 25 years of service, Hibret Bank s.c announced that it has earned 3.06 billion birr and 2.29 billion birr in gross and net profits for 2023/2022 fiscal year. The bank managed to almost double it’s earning per share from 26.47 to 50.72.
Read MoreDashen Bank earns 5 billion birr profit before tax for the 2023/2022 budget year registering 31.9% increase compared to the previous year.
The Bank’s total assets reached 144.6 billion birr registering a growth of 24.7% over last year’s position. Loans, and Advances, and IFB financing also witnessed a growth of 28.4% over last year’s same period and stood at Birr 100.2 billion.
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Top Banks in Ethiopia Ranking for 2023/2022 G.C (2015 E.C) Budget Year in terms of Profit, Assets, Paid-up and Total Capital, Total Income and Expense, Profit before and after tax and Earning per share (EPS) which determines Dividend or Return on Equity (ROE). Compare Ethiopian Banks Financial Performance by analyzing their annual report for key indicators such as Total Loans & Advances, Total Deposit, Number of branches, Employees and Number of account holders for 2023/2022 G.C (2015 E.C) fiscal year.
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Amhara Bank S.C reported that for it’s 11 days of operation until June 30, 2022 (2022/2021 budget year), the bank grossed 237 million birr profit before tax. The bank opened 75 branches, hired 1,425 employees and collected 401 million birr. Shareholders agreed to raise the bank’s capital to 20 billion birr.
Read MoreBerhan Bank has improved last year’s poor performance by earning 583.4 million birr profit before tax at the end of June 2022. The bank’s net profit reached 478.5 million birr more than doubling last year’s amount of 194.9 million birr. The Bank’s total capital reached Birr 4.5 billion while the paid up capital reached Birr 3.2 billion.
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Addis International Bank Reports 472.8mln br Gross Profit for 2022/2021 Budget Year, EPS Grows to 282.4. The bank’s total deposit reached 7.9 billion birr as of June 30, 2022 which was 19.3% higher compared to the previous year. Total assets of the bank reached 10.8 billion birr showing a growth of 1.9 billion birr or 21.3%.
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| Currency (Code) | Buying Rate | Selling Rate |
|---|---|---|
 US Dollar(USD) | 54.0679 | 55.1493 |
 Euro(EUR) | 59.3449 | 60.5318 |
 Pound Sterling(GBP) | 64.2131 | 65.4974 |
 UAE Dirham(AED) | 13.3234 | 13.5899 |
 Saudi Riyal(SAR) | 13.0456 | 13.3065 |
