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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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Most private banks in Ethiopia have reported their annual financial report for the 2021/2020 G.C (2013 E.C) budget year. We have compiled key indicators from their annual financial reports and have also estimated data for 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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Hibret Bank has reported that it has earned a gross profit 1.44 billion birr before tax and after reserves. This profit amount is 27.45% higher compared to the previous year’s amount.
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Dashen Bank has amassed 10.3 billion birr revenue for the 2021 / 2020 fiscal year. The bank managed to collect 21.1 billion birr deposit and the bank’s total deposit has reached 74.6 billion birr which has shown an increase of 39.4 % compared to the previous year.
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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.
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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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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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| Currency (Code) | Buying Rate | Selling Rate |
|---|---|---|
 US Dollar(USD) | 51.4571 | 52.4862 |
 Euro(EUR) | 54.3181 | 55.4045 |
 Pound Sterling(GBP) | 60.7094 | 61.9236 |
 UAE Dirham(AED) | 12.6769 | 12.9304 |
 Saudi Riyal(SAR) | 12.4143 | 12.6626 |
