Abay Bank S.C., celebrating its 15th anniversary since its establishment in Ethiopia’s private banking sector, has announced strong growth in its financial performance, highlighted by a total loan portfolio of 47.4 billion birr extended to various economic sectors.
At an event held at the Hyatt Regency Hotel to mark the milestone, the bank disclosed that its deposits surged by 37% over the past fiscal year to reach 72 billion birr. Meanwhile, total assets grew by 38%, hitting 91.3 billion birr. The bank’s annual gross revenue also nearly doubled, rising 95% to 16.2 billion birr.
Starting with a paid-up capital of 125.8 million birr and 823 founding shareholders after securing its license on July 7, 2002, Abay Bank has expanded significantly. Today, the number of shareholders has increased to 4,500, with paid-up capital climbing to 7 billion birr.
Speaking at the anniversary event, Abay Bank CEO Yehuala Gessesse credited the bank’s customers, board members, shareholders, employees, and stakeholders for their roles in achieving impressive growth metrics within a relatively short period. “Our performance reflects not only strong management but also our commitment to creating an inclusive financial system that serves all segments of society, tailoring services to meet customer needs,” he noted.S
ince its launch, Abay Bank has rapidly expanded its footprint, now boasting more than 555 branches nationwide and serving over 4 million customers. The CEO highlighted the bank’s push toward digital innovation, with digital transactions accounting for 57% of the total annual volume, underscoring efforts to modernize and enhance customer experience.
Over the past 15 years, Abay Bank’s expansion has also had a significant socioeconomic impact, creating approximately 10,000 jobs across both permanent and temporary positions.
