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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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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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Awash Bank has reported that it has earned 5.58 billion birr gross profit for the 2021 / 2020 fiscal year. The bank’s deposit reached 107.7 billion birr which is the highest deposit for a private bank in Ethiopia.
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Awash Bank has managed to earn 4.2 billion birr in gross profit and 2.6 billion birr profit after tax and other deductions. This solidifies Awash Bank’s number 1 spot in terms of financial performance for 2020 / 2019 budget year amongst private banks in Ethiopia.
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Awash bank, the biggest private bank in terms of profit has managed to earn 4.19 billion birr gross profit for 2020 / 2019 fiscal year, keeping it’s number one spot for the last 3 years. The bank managed to disperse loans worth 56.8 billion birr.
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The following table shows the gross profit (before tax) and net profit (after tax) of banks in Ethiopia for the 2020/2019 budget year.
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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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While it has been a few months since the last budget year closed (July 08, 2018 – July 07, 2019 / ሐምሌ 1፡2010 – ሰኔ 30፡2011), not all banks have disclosed their financial statements. The following is Ethiopian banks’ profit before and after tax for the 2019 / 2018 fiscal year.
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Three private banks passed the 1 billion birr mark in gross profits for the first time namely...
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Awash Bank has earned 1.96 billion birr gross profit for the 2018 / 2017 budget year. This makes...
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| Currency (Code) | Buying Rate | Selling Rate |
|---|---|---|
 US Dollar(USD) | 51.9387 | 52.9775 |
 Euro(EUR) | 54.7486 | 55.8436 |
 Pound Sterling(GBP) | 61.0197 | 62.2401 |
 UAE Dirham(AED) | 12.7956 | 13.0515 |
 Saudi Riyal(SAR) | 12.5258 | 12.7763 |
