Nov 24 , 2024
Goh Mortgage Bank reported gross profits of 83.4 million Br, a twelve-fold increase from last year's 6.4 million Br. At its general assembly last week, the bank announced total deposits of 1.02 billion birr, a 12pc increase from 30,530 deposit accounts, which grew by almost 40pc. Outstanding loans reached 1.55 billion Br, with 60pc directed to the construction sector and 19pc towards export-import activities. The bank mobilized 2.3 million dollars in foreign exchange during the year. Girum Tsehay, president, emphasized a future focus on resource mobilization by enhancing the customer experience while announcing plans to establish interest-free products. Belachew Hurrissa, chairman of the board, pointed to challenges including inflation, currency shortages, and credit caps but noted the bank's strong performance despite these issues. The bank has reached a paid-up capital of 1.14 billion Br, growing by 6.9pc.
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