Awash Bank held its 29th regular general meeting of shareholders. During this meeting, one of the members of the Board of Directors shared financial news about the bank’s performance in the 2023/24 fiscal year.
Awash Bank reported a profit before tax of 10.8 billion birr, representing an increase of 1.06 billion birr compared to last year. This strong financial performance reflects effective management and strategic growth. The bank collected 45.1 billion birr in new deposits, bringing total deposits to 232.4 billion birr. The loan portfolio reached 183.5 billion birr, indicating robust lending activity. The total annual income was 36.58 billion birr, and the bank also collected 1.52 billion US dollars in foreign currency.
The bank continues to grow, with total assets reaching 282 billion birr and an expanded branch network of 947 locations. This growth enhances accessibility for customers and strengthens the bank’s presence in the market. Awash Bank now serves over 12.41 million customers, and the number of shareholders has exceeded 11,000, with paid-up capital surpassing 20.3 billion birr.
Looking ahead, Awash Bank aims to build on its strong foundation. The management plans to innovate its services and expand its market reach. They intend to invest in technology to improve banking services and develop new financial products tailored to customer needs. Additionally, they will strengthen partnerships with international financial institutions to enhance foreign currency transactions.
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