Berhan Bank has reported a noteworthy 103.4pc increase in net profits, reaching 1.18 billion Br. It was accompanied by a 20.8pc return on equity and a 124pc surge in earnings per share (EPS), which climbed to 350 Br. However, the Bank's foreign exchange earnings declined by 4.9pc, totalling 139.8 million dollars, with remittances contributing 93pc and exports 5.6pc. Executives attributed the drop to a tightening in foreign exchange availability from key sources. They plan to focus on enhancing deposit mobilisation, revising strategic plans, and raising capital. Berhan Bank’s total revenues for the year hit 6.5 billion Br, while assets grew by 2.2pc to 45 billion Br. Deposits rose by 9.1pc to 39.9 billion Br, and loans and advances saw a 13.5pc increase, reaching 30.8 billion Br. The non-performing loan ratio improved, now standing at 4.98pc. Incorporated in 2009 with a paid-up capital of 97 million Br from 12,000 shareholders, Berhan Bank has since expanded its paid-up capital to 3.48 billion Br, reflecting a 2.9pc growth. The number of shareholders has increased to 16,902.
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