Abyssinia Bank Profit Latest Ethiopian News

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Private Banks Continue their profitability for Half of 2022/2021 fiscal year

Private banks in Ethiopia are continuing their profitable trend into the 2022/2021 financial year. According to their half year financial report, most banks were able to double their profitability compared to the 6 months in 2021/2020 financial year.

Awash Bank has managed to earn a gross profit of 4.6 billion birr while Abyssinia Bank grossed 3.3 billion birr for the first 6 months of 2022/2021 half year.

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Most profitable Ethiopian Private Banks for 2021 / 2020 fiscal year

A number of private banks in Ethiopia have reported their unaudited gross profits for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We have estimated the profit of the remaining banks by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

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Abyssinia Bank Earns 1.08 billion birr gross, 853.64 million birr Net Profit for 2020 / 2019 budget year

Abyssinia Bank has earned a net profit of 853.64 million birr for the 2020 / 2019 budget year. The Bank’s earning per share (EPS) [25 birr each] has slightly decreased from 7.23 to 7.20 birr. The bank managed to collect 47 billion birr in total deposit.

The bank showed impressive performance by increasing it’s total deposit from 32.15 million birr to 47.63 billion birr.

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Ethiopian Banks Half Year Performance Report

Some private banks have stated out that their half year performance has improved compared to last year’s half year performance. Out of the 16 private banks, Awash Bank leads the pack with 2 billion birr gross profit for the 2020 / 2019 half year. Dashen Banks follows with 1.16 billion birr. Other banks have had an improved gross profit compared to last year’s performance.

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Abyssinia Bank Earns 1 billion birr gross profit for 2019 / 2018 f.y

Bank of Abyssinia (Abyssinia Bank) announced in the annual shareholder meeting that it has made a gross profit of 1.02 billion birr for the financial year concluded June 30, 2019. This figure showed an increase of 258 million birr compared to last year’s result. The net profit of the bank reached 777 million birr.

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Date: May 12, 2022
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)51.457152.4862
EuroEuro(EUR)54.318155.4045
Pound SterlingPound Sterling(GBP)60.709461.9236
UAE DirhamUAE Dirham(AED)12.676912.9304
Saudi RiyalSaudi Riyal(SAR)12.414312.6626
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