Berhan Bank has registered a profit before tax of Birr 583.4 million which is 72.8 percent above last year’s profit. In it’s 13th Ordinary Shareholders’ Meeting on Thursdays, October 27, 2022 at Millennium Hall, Addis Ababa, Ato Gumachew Kussie, Chairperson of the Board of Directors, presented the Bank’s annual performance report, which was closed on June 30, 2022, to the shareholders. According to Ato Gumachew the concluded budget year was a year the Bank faced and triumphed over internal and external challenges and made critical changes.

Ato Gumachew further explained that in an attempt to accelerate the growth of the Bank, a number of critical decisions were made. One such decision was the appointment of new president in the third quarter of the fiscal year. The report indicates that strong focus was given to resolving cases having massive burden on the Bank’s performance. According to the report, reduction in non-performing loan and improvement in profitability were some of the major achievements registered.

The Bank’s report indicates that its deposit has surged by Birr 4.3 billion or 19.9 percent from last year; hence, the total deposit has reached Birr 26.0 billion. Similarly, the Bank’s number of depositors has grown by 39.7 percent from prior year’s position and reached 1.6 million. Besides, the Bank’s credit position grew to Birr 22.2 billion from its level of 17.8 billion in the preceding fiscal year, registering annual increment of Birr 4.4 billion or 24.4 percent. Further, total asset of the Bank stood at Birr 33.1 billion growing by 22.8 percent from last year’s position. The total capital and the paid up capital reached Birr 4.5 billion and Birr 3.2 billion, respectively exhibiting a growth of 19.1 percent and 8.7 percent compared to prior year’s position.

According to the Bank’s annual report, the Bank has prepared the 3rd five year strategic plan document and revised organizational structure to be implemented in 2022/23 financial year which is believed to bring a strategic shift on the Bank’s operational performance as well as its growth. Besides, the Bank secured title deed for a plot of land closer to financial center of the city for the construction of its head quarter. The Chairperson stated that cornerstone has been laid down recently in a very colorful event. Formal takeover of a plot of land in Wolaita Sodo has also been conducted and corner stone has been laid officially.

Finally, the Board Chairperson applauded the contribution of shareholders, National Bank of Ethiopia, customers and management and staff of the Bank for the success registered during the fiscal year.