Awash International Bank, Ethiopia has earned 7% more in profits in the first three quarters of the fiscal year than in the 
previous financial year.
The profit registered by the bank in the last nine months is a record according to Tsehay Shiferaw, Chief Executive of Awash. It is expected that the profit will continue to increase in the final quarter of the fiscal year said Tsehay.
The total paid up capital of the bank exceeded 900 million birr and total assets have reached 15 billion birr which is a notable increase from the 737 million birr paid up capital and 11.1 billion birr in total assets recorded at the end of the previous financial year he noted.
It is to be remembered that Awash earned 360.6 million birr in net profit in the last budget year. The total loan and advance of the bank stands at 5.4 billion at this time added Tsehay.Awash is the only private bank to date with its own headquarters and that the bank is expanding rapidly with the eight floorbank building to be inaugurated in Adama this month a part of its initiative he said.
The bank intends to intensify the construction of bank building in several towns across the country in the coming financial year said Tsehay.
Source:Ethiopian Herald
