July 19, 2024

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Ahadu Bank

Ahadu Bank Bags Over 175 Million Birr Profit

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Ahadu Bank today announced that it has achieved excellent results in all fields in the last financial year and, using various sources, it reached 1.15 billion birr and earned more than 175 million birr.

In addition, the bank has increased its paid-up capital to over 1.03 billion birr. This will enhance the financial capacity of the bank and create good opportunities for the bank for further expansions and investments.

According to the plan designed to extend the service throughout the country under the principle of “many to many”, Ahadu Bank has increased the number of branches to 104 and has been able to generate more than 700 thousand customers by providing convenient and fast services. At the same time, the bank’s total assets reached 6.3 billion birr, and it proved its ability to implement an adjusted deposit/payment balance, careful use of resources and effective investment management.

CEO of the bank, Mr. Sfihalem Liben, Ahadu said, “The bank has planned to include many financial users, strong family spirit, working in cooperation, and by implementing the latest digital technology, we have been able to collect more than 4.6 billion birr in deposits by gaining trust and great acceptance from the customers.”

The chief executive added that although they spent the last fiscal year in a difficult business context, yet they were able to achieve this result by providing various financial services, superior customer management and service delivery.

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