Zemen Bank, one of Ethiopia’s leading private financial institutions, has experienced remarkable growth in the first half of the 2025/26 fiscal year, with its capital increasing by 50% in just six months.
According to a statement from the bank, its total assets rose to 106 billion birr during this period, marking a 20% increase from the previous fiscal year’s close in June 2025, when assets totaled 88.6 billion birr.
Founded in 2008, Zemen Bank has quickly become a key player in the financial sector, now holding a position comparable to institutions established over 25 years ago, following the reopening of the financial industry to private investment in the mid-1990s.
The bank’s President, Dereje Zebene, reported that customer deposits have surged to 80 billion birr, reflecting strong growth and customer confidence. This represents a nearly 25% increase from the 65 billion birr mobilized at the end of the 2024/25 financial year.
Dereje noted that Zemen Bank achieved a profit exceeding 5 billion birr and raised its paid-up capital to 14 billion birr, up from 9.4 billion birr in June 2025. He emphasized that the bank has experienced a significantly improved performance over the past six months compared to the same period last year.
After reviewing the bank’s half-year performance, the Board of Directors, led by Chairperson Enye Bemir, expressed appreciation for these achievements and underscored the importance of continued effort in the second half of the fiscal year to attain even better results.
Dereje highlighted that the bank’s growth is intrinsically linked to the growth of its customers. “Our Bank’s growth is the growth of our customers. When we refer to the Bank, it also signifies that our customers have grown in tandem,” he explained.
Zemen Bank is recognized for its commitment to technology and a customer-focused approach.
Dereje further emphasized that the bank’s robust expansion contributes to national economic development by mobilizing savings, increasing credit supply, supporting investments, enhancing foreign currency earnings, and enabling the country to capitalize on these gains. This process allows customers to operate more effectively, create jobs, and contribute significantly to the economy.
During a half-year performance review meeting on January 24, 2026, attended by senior and middle management, Dereje stressed that sustainable performance relies on collective effort and mutual trust.
“Across all areas of operation, we must collaborate diligently to meet our customers’ needs. If we succeed, I am confident that in the next six months, we will achieve even better results. Safeguarding our customers’ trust remains our greatest responsibility,” he stated.
Zemen Bank is recognized as an innovative financial service provider in Ethiopia, distinguished by its unique business model and modern banking services.
Its mission is to deliver a distinct financial experience, foster an engaging work environment, and create sustainable value for stakeholders through an empowered workforce and technology, applied in a socially responsible manner.
By evolving from a corporate-focused entity to a versatile bank serving both corporate and retail clients, and by prioritizing innovation and efficiency, Zemen Bank continues to make meaningful contributions to Ethiopia’s economic development and the changing banking landscape.
