Global Bank Ethiopia announced that its paid-up capital has reached Birr 5 billion during the 2024/25 fiscal year. The Bank noted that its paid-up capital in the 2023/24 fiscal year was Birr 2.4 billion, reflecting a growth of more than 100 percent within one year.

According to the Bank, meeting the Birr 5 billion capital requirement set by the National Bank of Ethiopia ahead of the deadline demonstrates increasing shareholder participation and continued support from stakeholders. The Bank also indicated that achieving this level of capital will allow it to continue operating independently, with no plans for merger.

In its annual performance results, Global Bank Ethiopia reported earning more than Birr 5.56 billion in the 2024/25 fiscal year, representing a 37 percent increase from the previous year. Total assets reached Birr 34.4 billion, a 42 percent rise compared to the 2023/24 fiscal year.

The Bank stated that it mobilized Birr 7.53 billion in deposits during 2024/25, bringing total deposits to more than Birr 25.75 billion. It also reported earning Birr 1.17 billion before taxes, provisions, and other deductions, a 33 percent increase from the 2023/24 period.

Global Bank Ethiopia’s branch network has grown to 237 locations, serving approximately 1.8 million customers nationwide.

Source: Sheger FM 102.1