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Commercial Bank of Ethiopia (CBE) has reported that it has earned 20 billion gross profit for the 2021 / 2020 budget year. The bank reported that it has collected 140 billion birr in deposits for the budget year, making it’s total deposit reach 735 billion birr.
Read More![Most profitable Ethiopian Private Banks for 2021 / 2020 fiscal year [Estimation]](https://addisbiz.com/wp-content/uploads/Most-Profitable-Private-Banks-in-Ethiopia-2021-2020-G.C-ትርፋማ-የኢትዮጵያ-የግል-ባንኮች-2013-ዐ.ም-627x376.jpg)
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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Abyssinia Bank has reported a that it has earned a 2.87 billion birr gross profit, which is a record high for the bank. The bank also managed to add 2.5 million new customers which is a very impressive figure for a private bank.
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Cooperative Bank of Oromia has reported 2.39 billion birr gross profit for 2021 / 2020 fiscal year. The bank’s paid up capital has reached 4.6 billion which makes it one of the top capitalized banks in Ethiopia.
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Abay Bank profit before tax reached 640 million birr, decreasing by 43 million birr compared to the previous year. Profit after tax reached 501.2 comparatively staying the same compared to the previous year’s net profit of 501.5 million. Earning per share (EPS) has dramatically decreased from 343.6 birr for the previous year to 269.6 birr for the current year.
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Addis International Bank, one of the youngest banks in Ethiopia has reported that it has earned a net profit 213.1 million birr, showing an increase of 53.9 million birr or 34%. The Bank’s earning per share (EPS) increased from 20.7 from the previous year to 22.5%.
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Dashen Bank, one of the few banks which has been operating in Ethiopia for 25 years or more, has reported that it has earned 1.79 billion birr gross profit, and 1.54 billion birr net profit for 2020/2019 fiscal year, registering a growth of 39.9% and 51.2% respectively. Earnings per share has also surged by 20.2% and stood at Birr 490 compared to last year’s 408.
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Nib International Bank, one of the banks which has been working in Ethiopia for 20+ years has reported that it managed to earn 1.3 billion birr gross profit for 2020/2019 budget year.
In it’s 21st annual assembly held at Intercontinental Addis Hotel, the bank reported that it managed to increase it’s branches to more than 300 and it’s total number of employees has grown from 4,900 to 5,900.
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Berhan Bank reported that it has earned a gross profit of 707.5 million birr for the 2020/2019 budget year, making it’s net profit 553.1 million birr. The Bank’s earning per share (EPS) reached 258.8 birr.
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| Currency (Code) | Buying Rate | Selling Rate |
|---|---|---|
 US Dollar(USD) | 45.8988 | 46.8168 |
 Euro(EUR) | 53.7704 | 54.8458 |
 Pound Sterling(GBP) | 60.0868 | 61.2885 |
 UAE Dirham(AED) | 11.3076 | 11.5338 |
 Saudi Riyal(SAR) | 11.0746 | 11.2961 |
