Dashen Bank SC announced 3.8 billion Birr gross profit from the previous fiscal year.

During its 29th regular annual general meeting, Dashen Bank stated that the profit is 57 percent higher compared to the 2020/2021 fiscal year.

Dashen Bank’s Profit comes up to around 71.8 million usd when converted to USD using October 28, 2022 exchange rate for the Ethiopian birr where 1 USD = 52.86 ETB.

The Bank further announced that it was able to collect 16.7 billion Birr additional deposits in the 2021/22 fiscal year. As a result, the Bank was able to increase its total deposits to 91.2 billion Birr. Of this, it is said that 5.9 billion Birr is contributed by Sharik’s interest-free banking services.

Dashen Bank has reportedly managed to reach 117.14 billion birr in its total assets in the previous fiscal year.

This is a 24% increase compared to the 2020/21 fiscal year and it has been reported that the Bank’s paid-up capital has reached 7.5 billion Birr.

The Bank was also able to increase its loan portfolio to 79 billion Birr. It has been mentioned that Dashen Bank has fulfilled its social responsibilities by building schools, water projects and other service facilities.

In terms of expanding the digital banking system, the Bank was able to increase the number of users to 3.7 million birr by increasing the bar banking.