Zemen Bank has registered 1.05 billion birr gross profit for the recently ended fiscal year(June 2020), 59% increase from the previous year. This profit is the highest amount ever achieved by the bank in it’s 11 years of service.
The banks total deposit rose to 14.5 billion birr, which was 11.4 billion birr for the previous year. The bank managed to give loans worth 10 billion birr.
Due the high amount of profit, the earning per share (eps) of the bank is expected to grow to about 46%. Zemen bank gave a 3 month grace period for companies hospitality business as well as flower growers which were hit hard by the corona virus.