Bunna's paid-up capital increased by 12.8pc to 4.83 billion Br while its total assets grew by 17.5pc, reaching 54.53 billion Br. Despite a 20pc rise in total income to 8.03 billion Br, the Bank's net profit after tax fell 30pc to 730.4 million Br due to a 34pc surge in operating expenses to 7.10 billion Br. Board Chairperson Alemayehu Sewagegn stated that the profit level was lower than initially projected. The Bank's expansion included opening 13 new branches, bringing the total to 474. Loans and advances grew by 11.8pc to 38.87 billion Br. Deposits saw a 20pc increase reaching 43.87 billion Br, buoyed by 4,019,072 deposit account customers—an increase of 31.8pc. Mulugeta Alemayehu, CEO of the 15-year-old bank, noted that strategic initiatives for the upcoming year include implementing a five-year strategic plan, increasing branch efficiency, organisational restructuring, leveraging ERP systems, and focusing on digital financial service expansion.
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