Ethiopia’s Largest Private Lender Crosses 500 Bln Birr in Deposits

Awash Bank, Ethiopia’s largest private lender, has crossed 500 billion birr in deposits, adding to the rapid expansion of its balance sheet as competition intensifies across the country’s banking industry.

The bank announced the milestone at an event at its headquarters attended by Gurie Kumsa, chairman of its board of directors, and members of senior management. Similar events were held at the bank’s branches across the country.

Tsehay Shiferaw, the bank’s chief executive, attributed the growth to Awash Bank’s focus on customer-oriented services since its establishment 32 years ago. He credited the bank’s customers for contributing significantly to its expansion.

The new milestone marks a sizeable increase from the 467.9 billion birr in deposits reported by Awash Bank in its provisional financial figures for the year ended June 30, 2026. The bank has not disclosed the exact amount of deposits above the 500 billion birr threshold or when it was reached.

Awash Bank’s latest achievement comes as Ethiopia’s private banking sector expands amid regulatory changes, increasing competition and growing demand for financial services. The bank has maintained its position as the country’s largest private lender by key balance-sheet measures, according to the International Finance Corporation.

Established in 1994, Awash Bank has expanded its operations over more than three decades through a nationwide branch network and a growing range of banking services.

Source: FSX Business News