Berhan International Bank (BIB), one of the private bank in Ethiopia has secured 138.6 million Birr gross and 104.5 million Birr of net profits in the 2014/15 budget year, up from previous year’s 89 million Birr, Capital reported.

The Bank’s profit shows 14 percent increase in the 2014/15 fiscal year.

BIB’s total income has reached at 373 million, 24.6 percent greater than the previous year; 56.4 percent is from interest charged.

The Bank’s deposit mobilization has shown 50 percent increase, reaching 3.1 billion Birr. From this amount, savings deposits take the lion share and account for 58 percent.

However, shareholder’s pockets will only get earnings of 207 Birr per a 1000 Birr share, which was 239 Birr a year ago, the auditor’s report states.

Starting from June 30, 2015, the total assets of the Bank reached 4.17 billion Birr, a 48 percent growth.

BIB’s total capital reached at 726.8 billion Birr with 31.1 percent growth, while the paid up capital registered a 31.6 percent growth to 573 million Birr, exceeding National Bank of Ethiopia’s minimum capital requirement of half a billion Birr requirement before the end of 2016.

BIB has now 72 branches across Ethiopia.

Source: Capital