Abyssinia Bank has announced that it earned Birr 10.1 billion in unaudited profit during the 2024/25 fiscal year. This represents a 91.4 percent increase compared to the previous fiscal year. The announcement was made during the Bank’s 29th Annual General Meeting of Shareholders.

In addition, the Bank disclosed that the amount of foreign exchange it earned during the fiscal year reached USD 663 million, reflecting a 56.4 percent increase compared to the same period a year earlier.

The Bank’s deposit base also expanded significantly, rising from Birr 192.5 billion to Birr 243.2 billion. Of this, savings accounts accounted for 65.2 percent of total deposits.

On the lending side, Abyssinia Bank reported that loans and advances to customers, excluding interest-free loans, stood at Birr 193.4 billion, an increase of Birr 30.5 billion compared to the previous fiscal year. Export, industrial, and domestic sectors collectively accounted for 64.2 percent of the Bank’s loan portfolio.

Meanwhile, Abyssinia Bank’s total capital grew to Birr 28.8 billion in 2024/25, an increase of Birr 5.7 billion or 24.4 percent compared to the previous year. The Bank’s paid-up capital also increased, rising from Birr 14.2 billion in 2023/24 to Birr 15 billion in 2024/25, an increment of Birr 794 million or 5.6 percent.

Source: Sheger FM 102.1