Amhara Bank reported a pre-tax profit of 1.15 billion birr in the first five months of the current fiscal year, reversing a previous loss. This turnaround stems from strategic efforts in wealth accumulation, digital transformation, and careful credit management.
Amhara Bank achieved a pre-tax profit of 1.15 billion birr over the first five months of the current fiscal year, overturning a loss of 910.2 million birr from the same period last year. The institution recorded 3.55 billion birr in revenue during this time.
Total deposits climbed to 35.8 billion birr by November, marking an 82 percent increase and adding 4.29 billion birr in just five months. Foreign exchange earnings jumped to 76.58 million dollars, a 313 percent rise year-over-year. Loans and advances expanded by 53.8 percent to 31.3 billion birr.
The bank lowered its non-performing loan ratio to 4.06 percent, down from 12.9 percent in the prior November. Its customer base grew to 2.68 million, incorporating 591,884 new clients. These improvements reflect the bank's emphasis on building reserves, advancing digital services, and maintaining disciplined lending practices.