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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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Cooperative Bank of Oromia has reported that it has earned a gross profit of 767 million birr. The net profit after tax has reached 657 million birr
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Dashen Bank has reported that it has earned 1.3 billion birr gross profit for 2019 / 2018 budget year. The net profit of the bank now stands at 1.01 billion birr. The bank started it’s operation more than 24 years ago.
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Lion International Bank has reported that it has earned 695.5 million birr gross profit for 2019 / 2018 budget year. As per the company’s annual financial report, the net profit has now reached 539 million birr.
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Zemen Bank has reported a gross profit 636 million birr for the 2019 / 2018 financial year. The net profit of the bank now stands at 483.7 million birr.
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Wegagen Bank, one of the few banks who have operated in Ethiopia for more than 20 years has reported that it has earned 735 million birr gross profit for the 2019 / 2018. This profit is 315 million birr less than last year’s result.
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Nib International Bank announced a gross profit of 928 million birr, which is 269 million birr higher compared to the previous year. The company’s net profit reached 720.7 million bir. The total revenue of the bank reached to 2 billion birr, up from the previous year’s 1.5 billion birr.
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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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Enat bank has reported that it has earned 231.4 million birr gross profit and 202 million birr net profit. The bank’s total deposit has reached 7.12 billion birr which has showed an increase of 43%.
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Bunna International Bank’s gross profit grew to 625 million birr for the year ended June 2019, which is 46 percent higher compared to the previous financial year. The bank earned a net profit amounting 461 million birr.
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