The state-owned Development Bank of Ethiopia (DBE) reported a stellar financial performance for the 2024/25 fiscal year, with total revenue reaching 18 billion birr, a 30.7% surge from the previous year. The bank’s mid-year performance report, released Wednesday, highlighted 7.42 billion birr in revenue for the first half of the fiscal year, marking a 24.7% year-on-year increase.

DBE’s loan collection efforts were equally impressive, totaling 24 billion birr for the full year, surpassing its target by 5% and reflecting a 51.6% jump from the prior period. In the first six months alone, the bank collected 11.29 billion birr in loans, exceeding its half-year target by an extraordinary 109.7%.

The results were a focal point during a mid-year review dialogue held between DBE and its parent company, Ethiopian Investment Holdings (EIH). The holding company praised DBE’s strong performance but urged the bank to prioritize strategies for boosting foreign currency generation, mobilizing domestic funds, reducing non-performing loans, and streamlining operations to sustain its growth trajectory.