Abyssinia Bank has reported its strongest financial performance to date, with total assets reaching 286.2 billion birr ($5.1 billion), marking a 28.8% year-on-year increase as of the close of the 2017 E.C. fiscal year (2024/25 Gregorian calendar). The bank’s annual general meeting—its 29th regular and 16th extraordinary shareholder assembly—highlighted sharp growth in income, profitability, and digital infrastructure deployment, positioning the private lender as one of Ethiopia’s fastest-growing financial institutions.
Profit Soars by Over 90%
The bank’s net profit surged to 10.1 billion birr—representing a staggering 91.1% increase compared to the previous year—driven by improved interest income, strong loan performance, and expanding customer base. Total income for the fiscal year reached 39.1 billion birr, up sharply from 27.8 billion birr in the preceding year.
Abyssinia’s capital base also rose significantly, reaching 28.8 billion birr, bolstering the bank’s capacity to expand its lending portfolio and withstand economic headwinds in a market still reeling from macroeconomic instability, including inflation, forex shortages, and debt restructuring pressures.
“Our performance reflects both prudent financial management and our aggressive investment in future-facing technologies,” a Board representative said at the meeting.
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