Central Bank Clears Abduljuhad Hassan for Shabelle Banks Top Job After Eight-Month Wait

The National Bank of Ethiopia (NBE) has confirmed Abduljuhad Hassan as president of Shabelle Bank, ending eight months in which he led the Bank in an acting capacity.

He takes charge of a balance sheet that expanded by more than half in a year, ahead of the deposits meant to fund it.

Abduljuhad replaces Khadar Ahmed Abdi, who resigned to move overseas. He has spent close to two decades in banking, 11 of them in management, with earlier posts at Hibret, Oromia and Wegagen banks before moving into interest-free banking at Zemzem Bank. He joined Shabelle Bank as a Vice President for banking and microfinance operations.

The interim months were defined by growth from a low base. Gross profit surged by 1,055pc to 231 million Br, according to the Bank's unaudited financial statements for the year 2025/26. Operational income grew 66pc to 941 million Br, leaving a pre-tax margin near a quarter of income and a pre-tax return on assets of 2.4pc. Total assets climbed 9.7 billion Br, a growth of 55pc year-on-year.

Deposits more than doubled to 4.7 billion Br, yet they cover only 48.5pc of the asset base, leaving five billion Birr to be funded from capital and other liabilities.

Financing grew by 101pc to 3.5 billion Br, equal to 74.5pc of deposits, a ratio that leaves modest headroom for further disbursement unless deposit mobilisation accelerates. Annual credit disbursements reached 2.5 billion Br, close to three-quarters of the entire portfolio, unveiling rapid turnover in short-tenure facilities.

The retail footprint tilts heavily towards mobile. The Bank counted 425,693 customer accounts against 1.7 million digital wallet accounts, four wallets for every account on its books, while the deposits behind those accounts average about 11,000 Br each.

Shabelle Bank's Board of Directors has endorsed priorities for the 2026/27 fiscal year centred on customer growth, digital transformation, operational efficiency and governance. Whether the profit trajectory holds will depend less on the pace of asset growth than on deposits catching up with it.

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