Amhara Bank s.c, one of the newest bank in Ethiopia with the largest amount of shareholders held it’s annual shareholder’s assembly on Dec 29, 2022. The bank which started it’s operations 11 days before the end of Ethiopian budget year presented a report until Sene 30, 2022 which stated that the bank earned 531 million birr in revenues while expenses were 294 million birr. Accordingly, the bank earned 237 million birr gross profit for the stated budget year. During the budget year under review, the bank opened 75 branches and hired 1,425 employees. The bank managed to collect 401 million birr while it’s customer base reached 82,000. The bank’s assets at the end of the stated budget year was 7.1 billion birr.
Due to the short operation period of the bank for the stated budget year, the board chairman Ato Melaku Fenta gave additional information regarding the bank’s operation until Dec 24, 2022. The report states that Amhara Bank opened 201 branches and increased it’s customer base to 550,000. The bank managed to mobilize a total of 8.7 billion birr in deposits up to Dec 24, 2022. Loans amounting 6.5 billion birr was given to 400 customers while the bank’s paid-up capital reached 5.3 billion birr. The bank currently has 9 ATM machines but is in the process of acquiring 125 additional ATMs and 400 POS machines. Regarding human resource, 350,000 people applied for the bank’s job vacancy announcement while 20,000 of those people were called in for interview and exams. The bank currently employs 3,547 people.