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Dashen Bank announced that it made a profit of 5 billion birr before tax in the 2015 fiscal year, an increase of 31.9 percent compared to the same period of the previous year.
The bank’s 30th regular meeting of shareholders was held on that day. At the meeting, Dashen Bank board chairman Dula Mekonon and CEO Asfaw Alemu stated that the bank made a profit of 5 billion birr before tax and registered an income of 18 billion birr in the fiscal year.
The chairman added that the bank was able to collect an additional 23.6 billion birr in deposits, bringing the bank’s deposits to 114.8 billion birr. He also explained that the bank’s total assets reached 144.6 billion birr.
The chairman stated that many new guidelines were issued in the banking sector in the last financial year and the existing guidelines were amended. He explained that these guidelines have had their own impact on the amount of assets, operations, and related costs and profitability of banks.
In addition, the growing digital infrastructure has created the opportunity for services that were only provided by banks for a long time to be provided outside of banks. He said that this has created a wide opportunity for banks as well.
CEO Alemu said that last year was the year in which the bank achieved positive results in terms of expanding its reach, bringing in new customers, and accumulating wealth. He explained that the bank opened 253 new branches in different parts of the country in the last financial year, bringing the total number of branches to more than 835.
Noting that the bank has more than 5.2 million customers, he said that the bank will continue to provide banking services that suit the needs of its customers.
It was also announced at the meeting that Dashen Bank spent more than 285 million birr to fulfill its social responsibility in the last financial year. Dashen Bank’s total capital is 19.3 billion birr, with a paid-up capital of 9.3 billion birr.
