Amhara Bank reported a pre-tax profit of 1.15 billion Br in the first five months of the current fiscal year, reversing a loss of 910.2 million Br in the same period last year. The bank also generated 3.55 billion Br in revenue during this period. The bank attributes the turnaround to a strategic focus on wealth accumulation, digital transformation, and prudent credit management. Total deposits reached 35.8 billion Br as of November, up 82 percent, adding 4.29 billion Br over five months. Foreign exchange revenue surged to 76.58 million dollars, a 313 pc increase from last year, while total loans and advances grew 53.8 percent to 31.3 billion Br. Amhara Bank also reduced its non-performing loan ratio to 4.06 pc from 12.9 pc in November. Its customer base expanded to 2.68 million, including 591,884 new clients.
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