Amhara Bank held its 3rd regular general meeting of shareholders today, announcing that its total assets have reached 35.2 billion birr.
The bank revealed a 33% increase in loan advancements, amounting to nearly 20 billion birr, and reported a 26% growth in total deposits, with regular and interest-free banking services reaching a combined total of 25 billion birr.
Additionally, the bank’s annual income saw a significant surge of 146%, achieving 4.4 billion birr in earnings. The Chairman of the Board emphasized Amhara Bank’s commitment to its vision of serving a broader community, encapsulated in its motto, “Beyond the Bank”. The chairman also highlighted ongoing efforts to amass substantial resources to support this mission.
In terms of accessibility, the bank has made impressive strides by opening 143 new branches across the country during the fiscal year, bringing the total number of branches to 310.
Amhara Bank also reported a growing customer base, with more than 1.8 million customers and nearly 600,000 mobile banking users.
Despite past challenges, the bank announced a profit of 669 million birr this year, successfully compensating for previous losses. The management expressed optimism for continued growth and resilience in the coming years.
