Awash International Bank (AIB) reported on Saturday November 16, 2013, its yearly profit after tax has climbed 11.3 percent to 438.61 million birr, Fortune reported.

The bank also reported earnings per share (EPS) of 456 birr. A year earlier the bank's EPS stood at 469 birr. The decline in EPS is, according to the annual audited report of the Bank– owing to a 28.3 percent increase in its paid-up capital.

Awash’s paid-up capital of 1.170 billion Br and capital adequacy ratio of 24 percent make it a well capitalized bank, according to Fortune. Awash has more than doubled the half billion Birr paid up capital requirement set by the National Bank of Ethiopia (NBE).

AIB’s interest income has increased by 33.12 percent to 890.2 million birr. Gains on foreign exchange dealings, service charges and commission and other incomes have increased to 529.5 million birr – an increase of 19.8 percent.

The total assets of AIB have reached 16.1 billion birr, representing an expansion of 34.7 percent. The Bank has also disbursed loans and advances of close to 7.6 billion birr and mobilized deposits of close to 12.6 billion birr in the reported period.

Source: Fortune