Hibret Bank has reported a pre-tax profit of Birr 749.04 million for the 2024/25 fiscal year, according to disclosures made during its 28th Annual General Meeting of Shareholders.
Hibir Tower, Hibret Bank's headquarters, a 37-storey building built at a cost of 2.8 billion birr, located in the financial district of Addis Ababa, Ethiopia, has been inaugurated.
Hibret Insurance has reported a net profit of Birr 525.27 million for the 2023/24 fiscal year, reflecting a 60.62% increase over the previous year. This was announced at the company’s annual general meeting of shareholders held this week.
Hibret Insurance stated that it recorded a profit in the billions of birr during the 2024/25 fiscal year, according to a report presented at the company’s annual shareholders’ meeting.
Hijra Bank agrees with Rays Micro Finance to utilize Sahaypay mobile money, the fastest growing mobile money system in Ethiopia. The customers of the two financial institutions will be able to transfer finance once the agreement starts being implemented. Rays Micro Finance implements Real Time Gross Settlement System (RTGS) to transfer money across banks.
Rays Microfinance Institution S.C. was established on in 2014. It finances goods, machineries, equipment, livestock trade, agriculture, construction, and small industries. Hijra Bank currently has 250,000 customers.
Source: The Ethiopian Herald
