Abay Bank grossed 1.1 billion Br profit during the last fiscal year, portraying 80 percent annual increase from the preceding reporting period.
The Bank managed to register a remarkable financial performance despite several challenges, including political instability and war, that wreaked havoc on the financial sector.
During the last fiscal year, Abay Bank managed to increase its operating income by one billion birr to 2.4 billion Br.
Abay's interest income also saw almost a similar increase to almost 2.5 billion Br. This is because of an increase in deposit collected from customers, which soared by almost eight billion birr to 23.9 billion Br.
Abay is also among few financial institutions that reported a considerable rise in earnings per share. Its shareholders' return soared from 270 Br to 334 Br in the last fiscal year.
Founded 11 years ago, Abiy’s paid-up capital now stands at 2.8 billion Br, a 33.3 percent jump from last year. Its total assets valued at 30 billion Br.