Awash Bank has posted the highest profit ever recorded by a private bank in Ethiopia, reporting a gross profit of 25.67 billion Birr for the 2024/25 fiscal year—a 137% surge compared to the previous year. Net profit stood at 18.712 billion Birr, solidifying Awash’s position as the most profitable private financial institution in the country.

The results were unveiled during the bank’s 30th Regular and 18th Extraordinary Annual General Meeting (AGM) held at the Skylight Hotel in Addis Ababa. Speaking at the event, Board Chairperson Gure Kumssa stated, “This profit recorded by the bank makes it the bank with the highest profit in the history of private banks,” underscoring the scale of the achievement.

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Earnings Jump as Asset Quality Remains Strong

Awash Bank’s profitability translated into sharp growth in shareholder returns. Earnings per share (EPS) rose to 783 Birr per 1,000 Birr par value, up from 487 Birr the previous year—an increase reflecting the bank’s robust operational performance.

Remarkably, the bank maintained excellent asset quality despite rapid expansion. Non-performing loans (NPLs) remained at 2%, significantly below the 5% threshold set by the National Bank of Ethiopia (NBE). The figure positions Awash among the best-performing institutions in managing credit risk during a period of macroeconomic volatility.

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Deposits, FX Earnings, and Loans Hit New Highs

The bank also reported substantial growth across key performance metrics:

• Total deposits increased by 125.9 billion Birr (54%), reaching 358.4 billion Birr—a level unmatched by private banks in Ethiopia.
• Foreign exchange earnings surpassed $2 billion, marking a jump of $498.3 million from last year. This performance comes as FX scarcity remains one of the major challenges for Ethiopian banks.
• Loan portfolio grew by 20% to 219.6 billion Birr, reflecting expanding private-sector lending despite tight policy conditions and elevated liquidity needs in the market.

Awash’s ability to expand its balance sheet at this scale signals both strong customer confidence and effective resource mobilization across its nationwide network.

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Total Assets Near Half-Trillion Birr

Awash Bank’s total assets climbed to 442.6 billion Birr, solidifying its position as one of the largest financial institutions in the country.

At the same time, the bank increased its paid-up capital to 27.9 billion Birr, a jump of 7.6 billion Birr (37.2%). With this, Awash exceeded the NBE’s five-year minimum capital requirement ahead of schedule—a milestone many banks are still racing to meet.

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CEO Highlights Expanding Social Impact

CEO Tsehay Shiferaw emphasized that the bank’s financial gains are accompanied by a strong commitment to social investment. In his report, he highlighted that Awash allocated nearly 600 million Birr toward social responsibility efforts, covering:

• Charitable and community welfare programs
• Health and education initiatives
• Entrepreneurship and youth empowerment projects

This approach, he said, aligns with the bank’s long-term vision of contributing to inclusive economic development.

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Global Recognition Continues to Build

Awash Bank’s performance has also drawn international acclaim. The institution received the Best Bank in Ethiopia award from Global Finance Magazine for the fourth consecutive year, reaffirming its leadership in innovation, financial stability, and customer service.

Additionally, the bank earned the WSBI-SBG Sustainable Development Goals Award, recognizing its contributions to the UN’s SDG agenda—particularly in areas like financial inclusion and sustainable economic growth.

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A Defining Moment for Ethiopia’s Banking Sector

Awash Bank’s record-breaking results come at a pivotal time for Ethiopia’s evolving financial system, marked by capital market reforms, growing competition, and the anticipated entry of foreign banks. The bank’s performance sets a new benchmark for profitability, capitalization, and operational resilience.

With strong fundamentals, expanding national reach, and international recognition, Awash is positioning itself not just as a market leader but as a standard-setter in a sector undergoing rapid transformation.