Ethiopian Banks Profit Latest News

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Goh Betoch Bank Grosses 6.3mln Profit Despite Working for a Few Months

Goh Betoch Bank managed to earn 6.3 million birr profit in it’s first year of operation despite working only for a few months. The bank that has four branches including the one in Dire Dawa began providing loans in the fourth quarter of the financial year and disbursed over 300 million birr in this short period, while the deposit mobilization was about 260 million birr.

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Most Profitable Ethiopian Banks for 2022/2021 F.Y (Estimates and actual figures)

A number of banks in Ethiopia have reported their gross profit before taxes and other deductibles for the 2022 / 2021 G.C (2014 E.C) budget year which ended on June 30, 2022 G.C (ሰኔ 2014). We compiled this report and also estimated the profit of the remaining banks by carefully analyzing previous year’s performance and current year’s quarterly or half-year reports.

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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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Products and Services in Ethiopia

Date: Sep 29, 2022
Currency (Code) Buying Rate Selling Rate
US DollarUS Dollar(USD)52.584653.6363
EuroEuro(EUR)50.360351.3675
Pound SterlingPound Sterling(GBP)53.778754.8543
UAE DirhamUAE Dirham(AED)12.956113.2152
Saudi RiyalSaudi Riyal(SAR)12.636512.8892
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