Berhan Bank has improved last year’s poor performance by earning 583.4 million birr profit before tax. The bank’s net profit reached 478.5 million birr more than doubling last year’s amount of 194.9 million birr.
Berhan Bank’s total deposit stood at Birr 26.0 billion at the end of June 2022 growing from June 2021 position by Birr 4.3 billion or by 19.9 percent. The Bank’s number of depositors has surpassed 1.6 million growing by 39.7 percent from prior year’s position.
The Bank’s loan book at the end of 2021/22 financial year reached Birr 22.2 billion registering an increment of Birr 4.4 billion or 24.4 percent growth. Domestic trade & services, and building & construction took the largest shares from the total outstanding loan stock. The Bank’s non-performing loans ratio has improved to 8.5 percent, at the end of the financial year, from 9.8 percent in June 2021.
During the period under review, the Bank mobilized USD 128.6 million which is slightly below last year’s result of USD 134.2 million by 4.2 percent. Total asset of the Bank stood at Birr 33.1 billion growing by 22.8 percent from prior year’s position of Birr 26.9 billion. The growth is mainly driven by the expansion of the Bank’s loan book.
The Bank’s total capital at the end of June 2022 reached Birr 4.5 billion growing by Birr 717 million or by 19.1 percent while the paid up capital reached Birr 3.2 billion, growing by Birr 253 million or by 8.7 percent from last year’s position.
In the year under review, the Bank earned a total income of Birr 4.2 billion surpassing last year’s total income of Birr 3.4 billion by 21.9 percent. Interest income is above last year’s earnings by 24.5 percent, while non-interest income is below
prior years earning by 14.6 percent. The Bank incurred a total expense of Birr 3.6 billion, 16.4 percent or Birr 509.8 million above last year’s expense. Interest expense grew by 24.2 percent and non-interest expense by 12.7 percent from
prior year’s expense. Additional provision of Birr 336.9 million was held in the financial year for the outstanding loan growth and for the non-performing loans to ensure the financial soundness of the Bank.
Berhan Bank’s earning per share (EPS) improved from last year’s value 74.08 to 155.92.
The Bank earned a profit before tax of Birr 583.4 million exceeding last year’s profit by 72.8 percent. The Bank has opened 65 new branches brining the Bank’s total number of branches to 326. The Bank’s staff reached 6,278 at the end of June 2022 recruiting 1,031 new employees within the financial year
The Bank’s total number of shareholders reached 16,000.