Shareholders of Dashen Bank left their annual general assembly content, as their Bank netted 4.9 billion Br. Despite a two percent decline in earnings per share, now at 433 Br, the profit increased by 37pc from last year. Board Chairman Dulla Mekonnen noted the Bank's expansion in its ATM and POS terminal network, which contributed to increased forex and revenue generation in the wake of the local economic climate, including high inflation, internal conflicts, and supply chain disruptions. He expressed optimism about the economic reforms, including the liberalisation of the economy, privatisation of state-owned enterprises, and the establishment of a capital market. Total revenues reached 23.5 billion Br, driven primarily by interest income. The Bank's total assets grew by 26.9pc to 183.7 billion Br, with loans and advances accounting for 62pc of the total while deposits mobilised reached 145.9 billion Br, showing a 26.9pc increase. The Bank expanded its workforce by seven percent to 18,555 employees. Asfaw Alemu, president of the Bank, praised the “pioneering partnership targeting export-oriented agribusinesses,” marking the first private-sector lending by international financiers following the forex intermediation directive.
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