#Breaking_News
Ethiopia's Awash Bank Reports Remarkable ETB 14 Billion Profit Amid Credit Cap Challenges
Awash Bank, Ethiopia's private commercial bank, has announced a substantial increase in its profits for the 2023/24 fiscal year. According to the bank's financial statements, Awash Bank reported a pre-tax profit of ETB 14 billion, representing a 42.85% increase from the previous year's figure of ETB 9.8 billion.
The bank's total assets also reached a new high, growing to ETB 224 billion as of June 30, 2023, up from ETB 95.6 billion recorded at the end of June 2020. Additionally, Awash Bank's paid-up capital saw a significant increase of 42.85%, rising from ETB 10.2 billion to ETB 14.6 billion during the same period.
Read more: https://ethiopianbusinessreview.net/ethiopias-awash-bank-reports-remarkable-etb-14-billion-profit-amid-credit-cap-challenges/
Ethiopia's Awash Bank Reports Remarkable ETB 14 Billion Profit Amid Credit Cap Challenges
Awash Bank, Ethiopia's private commercial bank, has announced a substantial increase in its profits for the 2023/24 fiscal year. According to the bank's financial statements, Awash Bank reported a pre-tax profit of ETB 14 billion, representing a 42.85% increase from the previous year's figure of ETB 9.8 billion.
The bank's total assets also reached a new high, growing to ETB 224 billion as of June 30, 2023, up from ETB 95.6 billion recorded at the end of June 2020. Additionally, Awash Bank's paid-up capital saw a significant increase of 42.85%, rising from ETB 10.2 billion to ETB 14.6 billion during the same period.
Read more: https://ethiopianbusinessreview.net/ethiopias-awash-bank-reports-remarkable-etb-14-billion-profit-amid-credit-cap-challenges/