Total comprehensive profit reached 754.7 million Br, a 63pc growth from the previous year for Lion International Bank. The 18-year-old bank held its general assembly last week at the Skylight Hotel on Africa Avenue where shareholders were alerted of the good news. Total assets also peaked at 43 billion Br, increasing by 21pc while total liabilities account for 37.9 billion Br, exhibiting a 21pc increase. Despite challenges like high inflation and borrowing costs as well as weak global trade and investment coupled with supply chain disruptions, total income generated during the year has increased by 33pc, reaching 5.6 billion Br. The bank's expenses have also increased, in line with its sector, rising by 34pc, reaching 4.7 billion Br. The Bank has seen substantial growth in other areas as well. Total deposits increased by 30pc, reaching 35.6 billion Br from 27.3 billion Br. Its deposit customer base grew by 19pc, to reach 2 million. Total loans and advances grew by 14pc from the year prior, sitting at 30.4 billion Br. It secured 75.2 million dollars in foreign exchange, representing a 37 percent increase. The bank has marked 306 branches by adding 18 new branches from last year. Looking forward, board chairperson Alem Asfaw shared, "by June 2026, we aim to reach a minimum paid up capital of 5 billion Br, with a target of 10 billion Br in 2028."
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