Lion Thrives Through Challenges, More Than Doubles Profit


Lion Thrives Through Challenges, More Than Doubles Profit

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."

[ssba-buttons]

Radar

Parliament Enacts Solid Waste Management, Disposal Proclamation

Parliament has unanimously passed the solid waste management and disposal proclamation, marking a decisive move toward environmental sustainability. It mainly introduces stringent penalties for the use and distribution of single-use plastic bags, focusing on reducing pollution and promoting responsible waste practices. Under the new proclamation, individuals carrying plastic bags face fines ranging from 2,000 to 5,000 Br, while commercial producers, importers, and retailers may be fined betwe...


Radar

NBE Sustains Dollar Supply as Exchange Rate Rises

The US dollar rose to an average of 134.95 Br in the seventh round of the National Bank of Ethiopia's (NBE) foreign exchange auction held on June 5, 2025. This marks a steady increase from 133.17 Br in the previous round and 132.90 Br in the fifth. In the latest bi-weekly auction, the central bank offered 50 million dollars to 12 commercial banks. By comparison, 60 million dollars was supplied to 16 banks at 132.96 Br in early May. In April, two auctions distributed 70 million dollars to 26 b...


Radar

Holland Dairy Unveils Cold Facility, Reinforces Eco Goals Through New Treatment Plant

Holland Dairy has officially inaugurated a cold storage facility and commissioned a wastewater treatment plant, marking a significant step forward in its commitment to growth and sustainability. The event was attended by the Mayor of Bishoftu and the Ambassador of the Kingdom of the Netherlands to Ethiopia, showcasing both national and international support for the initiative. The new cold storage facility, with a capacity of over 400,000 liters of yogurt, is designed to enhance supply chain...