Bunna Bank has reported that it has earned 1.19 billion birr gross profit for 2022/2021 budget year, crossing the 1 billion birr mark for the first time. In it’s 13th annual shareholder meeting held at Millennium Hall on Dec 4, 2022, the bank’s board of directors announced that the bank had performed well for the stated budget year.

The bank’s total deposit reached 27.2 billion birr at the end of June 2022 which showed in increase of 6.7 billion or 32.8%. Total outstanding loans and advances of the bank reached 25.85 billion birr which showed an increase of 41.3% amounting 7.6 billion.

Non performing loans of the bank (NPLs) reached 4.1%. Although this value is below the maximum threshold set by the National Bank of Ethiopia (5%), it is worth noting that this should be improved in the coming year.

The bank managed to mobilize a total foreign currency worth of 149.1 million USD which 91% lower the performance achieved the in the preceding year.

Bunna Bank’s total income for the budget year reached 4.54 billion birr which is an increase of 1.25 billion (37.6%) compared to the previous  year while expenses grew to 3.35 billion showing an increase of 992 million or 42.1%. Consequently the total profit before and after tax of the bank reached 1.19 billion and 881.36 million consequently. The earning per share (EPS) of the bank reached 298.4.

Total assets of the bank grew by 8.16 billion reaching 34.1 billion. The bank’s total capital stood at 5.1 billion birr while it’s paid-up capital reached 3.3 billion birr.

Total number of deposit accounts of the bank increased by 334 and reached 1.96 million. 58 new branches were opened by the bank during the year under review making the total number of branches 343. The bank’s permanent staff reached 2,932.