Awash Bank reported a sharp rise in profitability for the 2024/25 fiscal year, with earnings per share increasing to 783 birr per 1,000 birr par value, up from 487 birr a year earlier. The bank posted a gross profit of 25.67 billion birr, an increase of 14.82 billion birr or 137 percent compared with the previous year. Net profit reached 18.712 billion birr.

The results were presented during the bank’s thirtieth regular and eighteenth extraordinary annual general meeting at the Skylight Hotel. Board chairperson Gure Kumssa said the profit marks the highest recorded by a private bank in Ethiopia.

Chief executive Tsehay Shiferaw highlighted the bank’s contributions to social initiatives, noting nearly 600 million birr allocated to charitable organisations, health, education and entrepreneurship programmes.

Total deposits rose by 125.9 billion birr, a 54 percent increase that brought the deposit base to 358.4 billion birr. Foreign exchange earnings exceeded 2 billion US dollars, rising by 498.3 million US dollars from last year, while the loan portfolio grew by 20 percent to reach 219.6 billion birr. Non-performing loans remained at 2 percent, below the National Bank of Ethiopia’s five percent threshold.

Total assets increased to 442.6 billion birr. Paid-up capital reached 27.9 billion birr after rising by 7.6 billion birr or 37.2 percent, placing the bank ahead of the central bank’s five-year capital requirement.