The Bank of Abyssinia (BoA), reported a 21.8 percent rise in gross profit for the 2012/13 fiscal year, Capital reported. The bank’s financial report indicated that BoA earned 351.5 million birr during the reporting period, according to Capital.

BoA’s net profit after tax in the past fiscal year stood at 264.7 million birr . The bank profited 215.7 million birr in the 2011/12 fiscal year.

Despite the growth in earning, the bank's earnings per share decreased slightly. BoA reported earnings per share of 50.2 birr, compared to the 54.4 birr during the 2011/12 fiscal year.

The total capital of the bank reached over 1.1 billion birr, which was about 906 million birr in the 2011/12 fiscal year. The paid up capital of BoA grew by 20.5 percent to 577 million birr.

The total assets of the bank also grew by 1.9 billion birr, reaching 10.2 billion birr.

Total deposit in the past fiscal year has also grew by 25.5.

The bank’s total outstanding loans for the period stood at 4.7 billion birr, growing by 20.6 percent from a year earlier. From the total loan and advance, domestic trade took the major share with 47 percent, imports receiving 18 percent, construction 15 percent, exports 12 percent and industry 5 percent.

As of the end of the past fiscal year BoA branches has reached 78.

Source: Capital