Lion International Bank saw a 47.6 percent rise in yearly profit after tax to 111.29 million birr, partly as a result of growth in income earned from service charges and commissions, Fortune reported.

The bank's earning from service charges and commission fees grew from 45.03 million birr to 61.21 million birr, while gains from foreign exchange dealings only increased by 4.9 percent to 27.86 million birr.

Lion has also reported 168.96 million birr in interest income, registering a 46 percent growth compared to the 2011/12 fiscal year.

The bank has disbursed 1.3 billion birr in loans and advances in the reported period. The banks provision of doubtful loans has dropped to 2.06 million birr from 5.24 million birr.

Lion’s total assets grew by 19.5 percent to 2.9 billion birr, and mobilized deposits reached 2.106 billion birr, up from the 1.7 billion birr in 2011/12. The loan-to-deposits ratio of the bank has now reached to 61.73 percent.

Liquid assets-to-total assets fell to 27.2 percent from 42.19 percent, while liquid assets-to-deposits went down to 38 percent from 59.83 percent. Liquid assets-to-total liabilities decreased to 32 percent from 51.41 percent.

Source: Fortune