BY BILAL DERSO
ADDIS ABABA– Dashen Bank, one of the leading private banks in Ethiopia, announced that it made a profit of 3.8 billion Birr before tax in the last financial year, which showed a growth of 57 percent compared to the previous year same period.
The bank also presented the performance of the fiscal year to the shareholders at the 29th Annual General Meeting yesterday. Dashen’s CEO AsfawuAlamustated the bank was able to expand access, generate new customers, collect higher deposits and record higher profits in the previous financial year.
Dashen, which announced its capability to collect additional deposits of 16.7 billion Birr in the fiscal year, said that its performance has increased by 22.4 percent compared to last year’s same period.
It has been reported that the growth in the interest free service sector continued in the last fiscal year and the bank’s total deposits in this channel reached 5.9 billion Birr. Meanwhile, Dashen’s total assets reached 117.14 billion Birr, which showed a 24 percent growth compared to last year.
The share of the bank’s shareholders also increased to 14.4 billion Birr, which showed a growth of 42 percent compared to last year. Following the shareholders’ decision to provide additional capital at their last meeting, the amount of the bank’s paid-up capital has reached 6.9 billion Birr, it was learned.
The Ethiopian Herald October 28/2022
