Zemen Bank ended the 2024/25 fiscal year with strong financial results, posting a gross income of Birr 14.4 billion and a net profit of Birr 5.87 billion. The growth reflected robust performance in its core lending and foreign exchange operations, alongside expanding digital services.

The Bank’s Chairperson, Enye Bemir, said the year’s achievements were part of a long-term strategy to strengthen Zemen’s institutional capacity and prepare for broader market participation. She stated that the Bank had continued laying the groundwork for its planned entry into the capital market and investment banking sectors. Enye added that modernising systems and adopting advanced technology were key to enhancing competitiveness and sustaining growth.

Interest and foreign exchange earnings remained the major drivers of profitability. Interest income reached Birr 7.02 billion, accounting for nearly half of total earnings, while income from foreign exchange transactions stood at Birr 3.87 billion. Service charges and commissions contributed Birr 3.3 billion, and other income totalled Birr 186.27 million.

Total expenses rose by 39.3 percent to Birr 6.2 billion, largely due to higher operating and staff costs. Interest expenses amounted to Birr 2.25 billion, followed by salaries and benefits of Birr 1.98 billion, and general operating expenses of Birr 1.73 billion. Depreciation and amortisation reached Birr 242 million.

Despite rising costs, asset quality remained solid. The Bank’s non-performing loan ratio stood at 2.81 percent, well below both its internal ceiling of four percent and the National Bank of Ethiopia’s five percent limit.

Zemen also reported strong progress in digital banking. As of June 2025, Internet and Mobile Banking users reached 197,344, including 55,047 new customers during the year. The platforms processed more than 329,000 transactions worth Birr 4.83 billion.

The Bank expanded its technology infrastructure with new IT systems, automation processes, and cybersecurity improvements. It also strengthened partnerships with FinTech firms and payment service providers to enhance digital accessibility and operational reliability.

By the end of the fiscal year, Zemen Bank operated 132 branches across Ethiopia, serving 294,419 account holders