Amhara Bank's second general assembly kicked off with Board Chairman Melaku Fanta reassuring shareholders that the Bank is financially on a strong footing while issues raised against board directors will be resolved in strict adherence to the law. Contentions between the board of directors, shareholders and management within the Bank were in the public eye for the past few weeks with Bank President Henok Kebede leaving his post before the assembly. A shareholder Abebaw Kassa Tesema demanded an explanation over the re-shuffle which was met with a firm response by the Board Chairman over the mandate to change management as they see fit. The Bank's growth fell short of the 150,000 shareholder expectations gathered at the Golb Club on Mauritania St, registering a 481 million Br loss. While acting president Chanyalew Demisse pointed to the rapid expansion of branches, which stand at around 290 and massive employment of a fresh labour force as causes for the loss, some shareholders expressed dismay over the outcome. Amhara Bank had total expenses of 2.3 billion Br while it exceeded the minimum paid-up capital set by the central bank for a 2026 deadline by 800 million Br. Over the year, the Bank extended 14.9 billion Bir in loans and advances and mobilised 19.8 billion Br of deposits from its customers.
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