Dashen Bank reported a 127.6 per cent increase in profit before tax to 15.2 billion birr for the fiscal year ended June 30, 2026, supported by growth in revenue, deposits and digital banking activity.
The bank announced the results at its 33rd ordinary and 29th extraordinary meetings on October 29. Total revenue rose by 49.2 per cent to 46.9 billion birr, while assets increased by 37.4 per cent to 350 billion birr, from 254.5 billion birr a year earlier.
Deposits reached 280 billion birr, up 36.9 per cent, after the bank mobilised an additional 75.4 billion birr during the year. Gross loans and advances, including interest-free banking financing, stood at 165.4 billion birr.
Dulla Mekonnen, chairman of the bank’s Board of Directors, said the performance reflected continued investment in digital transformation, customer expansion and resource mobilisation.
The bank also reported generating more than US$1.4 billion in foreign currency during the period.
Dashen’s customer base exceeded nine million across conventional and interest-free banking services, following the addition of 1.35 million customers during the year.
Its nationwide network comprised 900 branches, 1,206 automated teller machines and 4,081 point-of-sale channels, alongside an expanding merchant network.
The Dashen Super App processed more than 29.4 million transactions worth over 309 billion birr during the reporting period. The bank said daily transaction values on the platform exceeded 2.5 billion birr.
Chief Executive Officer Asfaw Alemu attributed the results to customer confidence, employee commitment and the bank’s ability to adapt to changing market conditions.
He said Dashen would continue expanding its customer base, accelerating digital adoption and investing in its next phase of growth.
Dashen is also preparing to enter investment banking through its subsidiary, Dashen Capital S.C., which is intended to offer asset management, securities trading and corporate finance services.
Dulla said the bank was awaiting final regulatory approval to launch a dedicated investment banking unit. Documentation has been completed, while recruitment of specialist staff is underway.
The proposed investment banking licence is separate from the share registration approval granted by the Ethiopian Capital Market Authority in December 2025.
During the fiscal year, Dashen said it continued providing financing to micro, small and medium-sized enterprises, women-led businesses, and businesses operating in agriculture, trade, healthcare and manufacturing.
The bank also allocated 200 million birr to community development and environmental protection initiatives.
It said it was strengthening its environmental, social and governance practices, including the management of climate-related risks and the expansion of green and inclusive financing.
Dashen said technology investment, broader financial access and service improvements would remain priorities as Ethiopia’s financial sector evolves.
