By Borkena News Desk
TORONTO, Canada — Ethiopia’s giant state-owned bank on Wednesday declared over 80 billion birr profit in the just ended fiscal year.
In a brief news statement it issued on Wednesday, it claimed that it has generated over 272 billion birr in the 2025/26 budget year.
Abe Sano, President of the Bank, revealed that the profit for the year is over 80 billion birr.
The president was speaking in an event organized in Addis Ababa to share performance evaluation for the year.
He said this year’s profit is up by 146.3 percent compared to last year’s performance. It has planned to make 120 billion birr profit in the new fiscal year.
The bank also disclosed that it has got over 707. 4 billion birr deposit during the same fiscal year. In terms of collection, a total of 546.26 billion birr was collected, according to the bank.
The bank has been making headlines in the past few years in connection with “systemic glitch” which reportedly led to loss of billions of birr as clients were able to withdraw or make online transfers of the money they do not have in their account. The bank later went after its clients who were engaged in the practice and has claimed to recover it fully.
There was another allegation of illegal money transfer involving over 7.7 billion birr which the bank denied. It described the report as “completely false.”
Meanwhile, the bank also announced that it has made over 1 trillion birr for loan service for this fiscal year.
The bank claimed during performance this week that the amount of loan granted to clients during the year was over 648 billion birr of which over 588 billion was allocated to the private sector.
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