Ahadu Bank has announced that it recorded a pre-tax profit of Birr 502.1 million during the 2024/25 fiscal year. The update was shared at the bank’s general meeting of shareholders.

According to the report, the bank registered steady expansion despite a challenging operating environment.

Total deposits reached Birr 7.88 billion, a 41 percent increase from the previous year. The bank also reported collecting USD 88.2 million, up 10.3 percent compared to the previous period.

Total income for the fiscal year amounted to Birr 2.16 billion, an 87 percent year-on-year increase. The bank’s total assets rose to more than Birr 10.1 billion, a 57 percent increase over the same period last year. The pre-tax profit of Birr 502.1 million represents a 351 percent increase compared to the previous fiscal year.

Ahadu Bank’s paid-up capital reached Birr 1.13 billion, while total liabilities stood at Birr 8.55 billion.The bank’s customer base expanded to 1.1 million and the number of branches reached 102 nationwide.

Ahadu Bank also reported that it planned to continue strengthening its operations moving into the 2025/26 fiscal year.

Source: Sheger FM 102.1