Gadda Bank Profit Jumps 136% to Birr 1.05bn

Gadda Bank’s pre-tax profit rose 136 percent to 1.05 billion birr in the 2025/26 financial year, up from 444 million birr a year earlier, as the lender recorded strong growth in income, assets and deposits.

The results were presented at the bank’s fifth regular general meeting of shareholders held at the Addis International Convention Centre. Shareholders approved the bank’s annual performance report and all agendas submitted for decision.

Total assets increased 64 percent during the year to 16.5 billion birr from 10.06 billion birr, while deposits grew 65 percent. Total income climbed 77 percent to 2.69 billion birr, with operating expenses increasing 55 percent as the bank expanded its operations.

Gadda Bank had authorised capital of 7 billion birr and paid-up capital of 1.65 billion birr at the end of the reporting period.

Interest-free banking remained a major contributor to the lender’s income, accounting for 56 percent of total income during the year. The bank also generated 85.1 million US dollars in foreign currency.

Chief Executive Officer Wolde Bulto told shareholders that Geda Bank had surpassed one million customers within three and a half years of starting operations.

The bank’s share sale is still under way, with 64 percent of the shares offered to investors sold so far, according to the report presented at the meeting.

Shareholders also approved a proposal to convert the profit into capital. The decision is intended to strengthen the bank’s capital base as it continues to expand its operations.

Vice-chairman of the board Hailu Ifa and Bulto responded to questions from shareholders and provided explanations on the bank’s performance and the agendas presented to the meeting.

Source: FSX Business News