Bank of Abyssinia (Abyssinia Bank) announced in the annual shareholder meeting that it has made a gross profit of 1.02 billion birr for the financial year concluded June 30, 2019. This figure showed an increase of 258 million birr compared to last year’s result. The net profit of the bank reached 777 million birr.
Loan’s and advanced of the bank increased by 25% and reached 23.7 billion birr for the year conculded in June 30, 2019.
Total assets of the bank reached 39.2 billion birr which showd an increase of 23pc. Capital of the bank increased by 17% and reached 39.29 billion birr.
In the recently concluded fiscal year, the bank opened 51 new branches in various areas of the country, reaching a total of 337 branches. The total number of depositors of the Bank increased from 1 million to 1.3 million.