Dashen Bank, one of the few banks which has been operating in Ethiopia for 25 years or more, has reported that it has earned 1.79 billion birr gross profit, and 1.54 billion birr net profit for 2020/2019 fiscal year, registering a growth of 39.9% and 51.2% respectively. Earnings per share has also surged by 20.2% and stood at Birr 490 compared to last year’s 408.
The Bank’s total Assets and the end of the budget year grew by 21.4% over last year’s position and reached Birr 68.26 billion. The total capital of the Bank has also increased by 21.4% and stood at Birr 8.31 billion, while it’s paid up capital reached 3.4 billion birr.
During the period under review, the Bank generated a total revenue of Birr 7.29 billion and expensed Birr 5.5 billion exhibiting a 30.3% and 27.4% growth respectively over last year same period.
The banks total deposit reached 53.4 billion birr which was 44.7 billion for the previous year while it’s outstanding loans reached 42.6 billion birr.
The bank’s number of branches increased from 413 for the previous year to 423 for the current year while total number of depositors increased 2.6 million.
Dashen Bank current has 9,970 employees while it’s number of card holders and ATMS reached 1 million and 389 respectively.