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Nib International Bank (NIB) stated that it has made impressive progresses this past financial year. NIB’s assets improved to almost 33 percent, reaching 21 billion birr. NIB has loaned out 10.9 billion birr which is a growth of 42.4 percent. Total savings reached 16.4 billion birr, an increase of 32.1 percent, meaning NIB has one of the biggest deposit mobilizations in the industry. For the stated 2016/17 financial year, their paid up capital went up by 19 percent to 1.7 billion birr, according to the report. Their capital rose to three billion birr.
Their gross profit of 48.6 percent or 681.5 million birr is one of their largest ever. After tax the figure is 516 million birr which is still a 45 percent increase. This year 50 new branches were opened making a total of 180.
NIB recently announced plans to hire a consultancy firm for their third five year strategic plan and ten year roadmap.