Global Bank Ethiopia has met the National Bank's minimum capital requirement of five billion birr, up from 2.4 billion Br last year, following the sale of new shares and settlement of existing subscriptions. The bank now counts  over 22,000 shareholders. Total revenue rose to 5.56 billion Br, from 4.05 billion Br the previous year, driven largely by interest income from loans and advances, which contributed over 75pc of revenues. Expenses climbed to 4.39 billion Br, up from 1.21 billion Br, with interest costs accounting for 60pc and salaries and benefits 24pc; the remainder covered general operations. Gross profit before provisions, depreciation, and taxes reached 1.17 billion Br, marking a 33pc increase year-on-year. "Earnings per share have slightly declined because our priority was on paid–up capital," said Biniyam Fikadu, Marketing and Communication Director. At the recent general meeting, the bank announced earnings per share of 16.66pc. Outstanding loans stood at 20.38 billion Br, while foreign exchange mobilization for the fiscal year reached 112 million dollars, up 13.3 million dollars. The bank has fully sold its authorised shares and plans to seek Annual General Meeting approval to issue 25 billion Br of new shares, raising its capital ceiling further. Total assets now stand at 34.4 billion Br, expanding by 10.22 billion Br over the past year.

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