Lion International Bank S.C. (LIB) has reported remarkable financial performance for the 2024/25 fiscal year, announcing a net profit before tax of Birr 1.8 billion—a substantial 94% increase compared to the previous year. This sharp improvement is linked to strategic changes following the transfer of shareholders from the former Geez Bank, which had not commenced operations.
At the 6th Extraordinary Shareholders’ Annual Meeting, LIB approved an ambitious plan to raise its paid-up capital to Birr 10 billion by June 30, 2028. This goal builds on successfully surpassing the National Bank of Ethiopia’s (NBE) minimum capital requirement of Birr 5 billion for 2026. The capital increase was facilitated by the shareholder transfer from Geez Bank, officially recognized by the National Bank on August 25, 2025.
Alem Asfaw, Chairperson of LIB’s Board of Directors, highlighted that the transaction provides a strategic solution for former Geez Bank investors and sets a precedent for mergers and acquisitions within Ethiopia’s financial sector. The merger substantially boosted Lion Bank’s capital base, enhancing its financial stability and operational capacity.
LIB’s total assets expanded by 25% to Birr 54 billion, while capital and reserves rose by 28% to Birr 6.5 billion. Customer deposits grew 23%, increasing by Birr 8.3 billion to a total of Birr 44 billion. Additionally, the bank experienced a 24% rise in its customer base, reaching 2.4 million.
The loan portfolio grew by 19% to Birr 36.2 billion, with 75% allocated strategically to exporters, importers, domestic trade, and other vital economic sectors. LIB also strengthened partnerships with over ten international money transfer service providers, achieving a 38% increase in remittances with US$104 million raised during the year.
Operational expansion included opening 35 new branches, bringing the network total to 341, and increasing staff numbers to 6,888 employees.
Financial inclusion advanced with the launch of the interest-free banking service under the ‘Al-Nejashi’ brand. In just over a year, this service attracted over 7,000 customers and handled transactions exceeding Birr 657 million, delivered through three full branches and 115 ‘window-based’ service points nationwide.
LIB is actively preparing for an initial public offering (IPO) on the Ethiopian Securities Exchange (ESX), establishing a Capital Market Project Office and onboarding marketing and legal consultants to support the process.
“Together, we will continue the legacy of Lion International Bank—making it stronger, smarter, and more resilient than ever,” stated Board Chairperson Alem Asfaw. President Daniel Tekeste echoed this optimism, emphasizing the 94% profit growth as proof of shareholder and customer confidence.
The bank is finalizing a three-year strategic plan themed “Rebuilding Lion International Bank,” focused on surpassing the Birr 10 billion capital target, accelerating technology-driven initiatives, enhancing operational efficiency, and investing in employee development.
