Bank of Abyssinia (BoA) has achieved remarkable financial growth for the fiscal year ending June 30, 2025, solidifying its status among Ethiopia’s top private banks. The bank reported a 91.4% increase in gross profit before tax, reaching 10.101 billion birr, according to details revealed at its 29th Ordinary General Meeting of Shareholders.
Despite a challenging domestic and global economic environment, BoA expanded its balance sheet and advanced digital innovations significantly. Net profit after tax soared from 4.237 billion birr in the previous year to 7.298 billion birr, while Earnings Per Share (EPS) surged between 33% and 50%, as stated in the annual report.
Total comprehensive income hit 7.447 billion birr for the period. Chairman of the Board, Mekonnen Manyazewal, highlighted that the Public Shareholder Association, established in 1996, continues to ensure the bank’s strong financial health.The bank’s total assets grew by 28.8%, rising from 222.3 billion birr to 286.2 billion birr.
This growth was mainly driven by loans and advances to customers, which, after net loan reserves, totaled 193.37 billion birr—representing 67.56% of the bank’s assets.Deposits also increased by 26.3%, or 50.7 billion birr, totaling 243.2 billion birr. Revenue reached 39.1 billion birr, with income from net fees and commissions more than doubling from 2.198 billion birr in 2024 to 4.817 billion birr.Interest-free banking deposits stood at 31.5 billion birr, accompanied by a customer base growth of 1.9 million. Total expenditures rose by 28.9%, reaching 29 billion birr.
While revenues surged, reserves for doubtful loans escalated, with credit default payments nearly doubling from 1.099 billion birr to 2.122 billion birr.BoA also expanded its digital outreach, installing over 1,700 ATMs and more than 3,600 sales POS machines, underscoring its commitment to digital banking innovation amid rapid growth.
