Bunna Bank, one of the country’s second-generation private banks, reported a pre-tax profit of 2.6 billion Br, a sharp rise from the previous year’s 930 million Br. Net profit reached 1.9 billion Br. At the general assembly held last week at the Addis International Convention Center, shareholders approved a dividend payout of 1.2 billion Br but voted to convert the amount into capital instead. The decision positions the Bank ahead of the five-billion-birr paid-up capital requirement a year earlier than anticipated. Once the full dividend is converted, paid-up capital will stand at 6.5 billion Br. Board Chairman Mulugeta Asmare described the outcome as the result of a disciplined working culture and long-term strategy. He said the Bank has not only achieved record earnings but also strengthened its capital base to support future innovation and expansion.

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