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In a year marked by economic hurdles, Bunna Bank S.C. has demonstrated remarkable resilience, reporting a pre-tax profit of 930.1 million birr for the fiscal year. Despite the challenges posed by high inflation, foreign exchange shortages, regulatory complexities, and regional conflicts, the bank managed to maintain a solid financial standing.
Key highlights from the bank’s performance include a 20% increase in deposits, which totaled 43.87 billion birr. Of this, savings deposits contributed 2.79 billion birr, demand deposits 1.55 billion birr, time deposits 2.62 billion birr, and 307 million birr was mobilized through interest-free banking services under its “KHADIM” brand.
Ambassador Alemayehu Sewagen, sharing the bank’s annual report at the shareholders’ meeting, acknowledged the difficult environment faced by the Ethiopian banking sector. However, he emphasized that Bunna Bank’s profitability and competitiveness remained strong. The bank also disbursed 4.1 billion birr in loans, bringing its total loan portfolio to 38.87 billion birr, reflecting an 11.8% growth.
Despite a decline in remittances and a slowdown in export activities, Bunna Bank managed to secure 167.6 million USD in foreign exchange earnings. The bank’s total assets grew by 8.14 billion birr, reaching 54.53 billion birr, and its paid-up capital rose by 549.2 million birr, totaling 4.83 billion birr.
In terms of customer engagement, the bank saw a 31.8% increase in the number of deposit account customers, now totaling over 4 million. Additionally, the installation of 200 cash payment machines across branches, hotels, and commercial service points has helped expand Bunna Bank’s digital reach. The bank’s mobile and internet banking services facilitated over 21.1 billion birr in transactions, while card payments amounted to 1.39 billion birr.
Bunna Bank has also placed a strong emphasis on its strategic future, with the approval of a five-year corporate plan that includes enhanced resource mobilization, digital banking expansion, and alignment with the National Bank of Ethiopia’s risk management standards. The Chairman encouraged the Bunna Bank community to continue driving the bank’s success and thanked the National Bank of Ethiopia for its support.
Serving over 14,000 shareholders and employing more than 4,100 staff members, Bunna Bank remains a key player in Ethiopia’s banking sector, offering a wide range of conventional, digital, and interest-free banking services through its 474 branches nationwide.
