Bank of Abyssinia Profit Jumps 57% as Assets Reach 381.5bn Birr

Bank of Abyssinia reported a 56.91 per cent increase in gross profit to 15.85 billion birr in the 2025/26 financial year, while its total assets rose by a third to 381.5bn birr, according to figures presented to shareholders.

The lender’s total income increased by 16.17bn birr from the previous year to 55.24 billion birr, while assets expanded by 95.27 billion birr, or 33.28 per cent, during the year, the bank said at its 30th ordinary and 17th extraordinary shareholders’ meetings.

The meetings were held at the Adwa Victory Memorial in Addis Ababa, with board chairman Mekonnen Manyazewal opening the proceedings before the bank presented its annual performance report.

Foreign-exchange earnings reached 966.64 million US dollars, up 45.79 per cent from the previous year, as the bank continued to expand its operations across Ethiopia.

The figures point to a year of strong growth for the private lender, although the bank did not disclose details of the factors driving its profit increase or the contribution of interest income, fees and foreign-exchange services to its earnings.

Digital channels accounted for 82 per cent of the bank’s total transactions in 2025/26, according to the report presented to shareholders, as the lender expanded its use of technology to deliver banking services.

Bank of Abyssinia operated 981 branches and employed more than 10,500 people during the financial year. Shareholders also elected 12 board members to serve for the next three years and approved a proposal to increase the bank’s subscribed capital.

Source: FSX Business News