Berhan International Bank S.C, announced 52.29 million birr profit, a 55.21 percent growth for 2012/13 fiscal year, Fortune reported.

The bank announced during its annual assembly on Saturday, November 9, 2013, that its total assets increased by 71 percent to 2.197 billion birr in the reporting period.

Berhan has also doubled its loans and advances to 964 million birr and mobilized deposits of 1.593 billion birr. Berhan has managed to improve its loan to deposits ratio to 60.5 percent from 53 percent. The bank's total deposit as of June 30, 2013, reached 1.6 billion birr, registering an increase by 70.9 percent compared to a year earlier.

The bank’s cash and bank balances have gone up by 37.47 percent to 739.87 million Birr. The liquid assets to total assets ratio has declined to 33.67 percent from 41.88 percent and liquid assets to deposits ratio has dropped to 46.44 percent from 57.76 percent.

Berhan International Bank capital adequacy ratio (CAR) stands at 35.25 percent. Berhan has increased its paid-up capital by 58.77 percent to 313 million birr.

Source: Fortune