Amhara Bank reported a pre-tax profit of 1.1 billion birr for the 2024/25 fiscal year, reflecting a 70% increase from the previous year. The announcement was made during a strategic meeting held on Tuesday at the bank’s headquarters.

The bank’s CEO, Dr. Yohannes Ayalew, said the growth was driven by improvements in deposit mobilization, loan disbursement, foreign currency acquisition, and digital banking operations.

During the year, total deposits grew by 26%, while the number of customers reached 2.4 million, up 41% from the previous fiscal year. Loan mobilization rose sharply to 10.4 billion birr, marking a 236.3% increase. Foreign currency acquisition also climbed by 77.5% year-on-year.

The bank’s total capital reached 8.6 billion birr, up 24.6%, while total assets increased by 22% to 43.1 billion birr. Amhara Bank, established just three years ago, attributed the results to its ongoing expansion strategy.

At the meeting, the Board of Directors approved a new salary and benefits scale proposed by the management, citing its alignment with current operational needs.

For the upcoming fiscal year, Amhara Bank said it will prioritize asset mobilization, expanding digital services, increasing foreign currency reserves, and growing its customer base.