Awash Surpasses 100b Br in Deposits


Awash Surpasses 100b Br in Deposits

Ethiopia's most profitable private bank, Awash, announced that its outstanding deposit has surpassed the 100 billion Br mark. Established 27 years ago, Awash is the first private bank to reach this level and the achievement makes it the second-biggest in terms of deposit mobilisation just next to the Commercial Bank of Ethiopia, whose outstanding deposits totaled 698.2 billion Br by the end of March 2021. Awash is the first private bank established after the introduction of a mixed economy almost three decades ago in Ethiopia. In the last fiscal year, the Bank netted 2.6 billion Br in profit. Over the same period, the Bank has managed to mobilise 70.6 billion Br in deposit, a 30 billion Br increase in less than a year. It is also the most capitalised bank among private financial institutions. Its paid-up capital was 5.8 billion Br by the end of the last fiscal year. For the last five consecutive financial years, it has registered the highest profit from among all private banks. It was followed by Dashen Bank, which netted 1.5 billion Br during 2019/20, 52.2pc higher than the preceding fiscal year.

[ssba-buttons]

Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...