Amhara Bank reported that its unaudited gross profit for the 2024–2025 fiscal year increased by a noteworthy 70 percent to 1.1 billion birr. Three years after its founding, this impressive financial performance marks a prosperous time for the quickly expanding institution.
The figures were disclosed on July 21 at the bank’s headquarters, where CEO Yohannes Ayalew outlined a series of strong performance metrics spanning deposit mobilisation, loan recovery, foreign exchange gains, and digital banking adoption.
Amhara Bank’s customer base grew by 41 percent to 2.4 million during the reporting period.
Furthermore, 10.4 billion birr in loans were recovered by the bank during the year, a remarkable 236.3 percent increase over the previous fiscal year.
Furthermore, the bank’s foreign exchange acquisitions rose 7.5 percent from the same period the previous year.
Amhara Bank’s deposit base grew by 26%
The deposit base of the bank grew by 26 percent compared to the previous fiscal year. Amhara Bank’s total capital reached 8.6 billion Birr, a 24.6 percent increase.
Despite being only three years old, the bank’s total assets increased by 22 percent to 43.1 billion birr in the fiscal year 2024–2025.
New pay scale and benefits package
The Bank’s Board of Directors unanimously approved a new pay scale and benefits package in appreciation of the management’s efforts.
Amhara Bank declared that its strategic priorities for the next fiscal year would be resource mobilisation, foreign exchange generation, digital expansion to boost future competitiveness, and a notable growth in its clientele.
Amhara Bank urged its Customers and stakeholders to accompany it on this adventure and seize the new chances that lie ahead.
About Amhara Bank
On June 18, 2022, Amhara Bank formally opened for business after obtaining a business operation license from the National Bank of Ethiopia. This date was significant because it marked the beginning of numerous amazing projects at once, such as the opening of 72 fully functional branches, all of which were connected by state-of-the-art core banking systems, Interest Free Banking, and automated teller machines, to name a few.
Amhara Bank was founded by over 163,000 subscribers with 7.4 billion ETB in paid-up capital and 7.4 billion ETB in subscribed capital, making it the most powerful and well-known bank in Ethiopia thanks to its large number of shareholders.
The Bank has a strong leadership structure that ensures its success. It has a robust management team and board of directors consisting of ten highly regarded academicians and entrepreneurs.
Amhara Bank currently provides high-quality banking services through its over 313 branches, USSD-based mobile banking, and an in-house developed, cutting-edge mobile banking application. More than 5000 skilled and talented workers are now employed through the bank.