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Awash Bank Posts Record Profit of 25.6 Billion Birr as Total Assets Surpass 442 Billion Birr

Posted on: 2025-11-24 20:19:25

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Addis Ababa – Awash Bank has announced a historic gross profit of 25.6 billion birr for the 2017 fiscal year, marking the highest profit ever recorded by a private bank in Ethiopia. The bank’s total assets have now reached 442.6 billion birr.

The announcement was made during the institution’s 30th Annual General Meeting and 18th Extraordinary General Meeting of Shareholders, held on Saturday.

Speaking at the event, Awash Bank’s CEO, Tsehay Shiferaw, revealed that the bank achieved a gross profit of 25.67 billion birr during the fiscal year—representing a 137% increase compared with the previous year, according to FMC.

Total deposits reached 358.5 billion birr, reflecting a year-on-year growth of 125.9 billion birr.

The CEO further noted that the bank generated over USD 2 billion in foreign exchange earnings during the fiscal year, while its loan portfolio expanded by 20%.

He added that the bank’s paid-up capital has now reached 27.9 billion birr—exceeding the minimum capital requirement set by the National Bank of Ethiopia for existing banks to meet within five years.

Awash Bank also allocated 600 million birr towards corporate social responsibility initiatives.

It was highlighted that the bank now serves more than 15 million customers and operates 989 branches nationwide.