Amhara Bank has exited its loss position, posting a profit before tax of 655 million Br, an increase of 85 pc, or 301 million Br, compared with the previous fiscal year. The result was announced at the bank’s general assembly last week at Millennium Hall. Board Chairperson Gashaw Debebe noted that the bank’s paid-up capital has reached 7.4 billion Br. Gashaw attributed part of the growth to the release of 975.7 million Br previously suspended by the National Bank of Ethiopia (NBE), which had withheld the funds during the bank’s establishment due to incomplete documentation. Gashaw said the bank has now surpassed the minimum capital requirement set for July 2026. The bank also reported revenue of 5.6 billion Br for the fiscal year, up 29 pc from the previous year, with interest income making up 80 percent of the total. President Yohannes Ayalew said the performance reflects steady improvement and sets a positive outlook for the bank.

[ssba-buttons]