Awash Bank raises profit to 38.3 billion birrs

Awash Bank, one of Ethiopia’s leading private banks, recorded a record gross profit of 38.3 billion birrs for the financial year ended 30 June 2026, up 49.2% year on year. The result was presented on Saturday 31 October to shareholders meeting at the Skylight Hotel in Addis Ababa, according to Addis Fortune.

Earnings per share rose from 783 to 858 birrs. Deposits increased by 41% to 469.3 billion birrs, while revenue reached 84.06 billion, up 31%. Loans increased by 54.5 billion to exceed 274.1 billion birrs, equivalent to about 58% of deposits.

Paid-up capital reached 38.5 billion birrs, compared with 27.9 billion previously, while total capital, including statutory reserves, exceeded 90.4 billion. Foreign exchange revenue surpassed $2.63 billion, an increase of $620 million, while the bank paid 15.77 billion birrs in corporate tax.

Opened 32 years ago with five branches and 137 employees, Awash Bank now has more than 1,010 branches and employs more than 20,658 people. Its chairman, Gure Kumssa, told shareholders that the bank had maintained its position as the leading private bank despite national and international economic difficulties, reports Addis Fortune.