Addis Bank Registers 7.81 Million Birr in Profits
Addis Bank announced 7.81 Million birr in profits in its first year of operations. The bank’s unique achievement was mainly due to income earned through indirectly channeling funds between borrowers and lenders as well as other non-interest bearing activities said Hailu Alemu, president of the Bank speaking at the Bank’s general assembly, held at Kokeb Building.
The Bank was also able to significantly reduce its expenses over the fiscal year. He added.
“This incredible result was recorded because of two reasons, which are integrity-based service and cost controlling mechanisms,” said Hailu.
Add a comment Add a comment