Bunna Bank Lives to See Another Bounty Year with1.19b Br Profit

Dec 10 , 2022

Bunna Bank bagged a 1.19 billion Br gross profit from its operations in 2021/22. The Board Chairman, Alemayehu Sewagegn, recalled the Bank had gone through hard times with the impacts of the global pandemic and conflicts on domestic and international scales. Yet, Bunna Bank has maintained its profitability and achieved a higher performance than the previous year. With more than 13,000 shareholders, Bunna Bank held its annual general meeting on December 4, 2022, at the Addis Park Millennium Hall. The Bank disbursed a total of 7.6 billion Br in loans showing an increase of 41.3pc and reaching 25.85 billion Br. Its total assets increased from 8.16 billion Br to 34.1 billion Br, while total capital showed an increase of 1.2 billion Br standing at 5.1 billion Br. With 58 new branches opened last year, Bunna Bank operates 343. The Bank’s foreign currency earnings were about 149.1 million dollars, with 51.3pc mobilised from the export trade. Although Bunna Bank currently works with 10 foreign money transfer agents, remittances from abroad were significantly reduced from last year by 9.1pc to 149.1 million dollars. The Bank mobilised more than 27.2 billion Br in deposits. The savings account has taken a 78.6pc share of all deposit schemes. The Bank’s deposit customers showed a 41.2pc rise compared to the previous year, reaching over 1.96 million. “KHADIM”, the Bank’s interest-free banking (IFB) window, has 52,000 new accounts opened, totalling 112,000 users. The Bank collected close to 896.6 million Br from IFB users.