Berhan bank attains inclusive and holistic growth as profits rise one and half times higher than the past financial year.
The bank which started operations 13 years ago, has disclosed that in the recently wrapped up financial year, that ended on June 30, 2022, it has attained significant growth in all aspects.
In the reporting year, the bank earned a total of 4.2 billion birr in income attaining a growth of 22 percent when compared to the 2020/21 financial year.
According to the annual report which was presented at the general assembly, held last week, the bank’s year was noted to have been remarkable in terms of profit. For the reporting year, Berhan’s profit before tax recorded almost 73 percent growth surpassing half a billion birr for the first time.
For the year under review, the profit before tax stood at 583.4 million birr from 338 million birr, a year ago.
Similarly, the profit after tax increased by 145.5 percent reaching 478.5 million birr from 195 million birr in the year that ended in June 2021.
The earnings per share (EPS) have also registered over a double increment capping at 156 birr per a thousand birr share value. In the preceding year, the EPS was 74 birr which was 110.7 percent lower than the performance secured in the financial year that closed in June 2022.
For the year, Berhan’s assets grew by 23 percent to reach 33.1 billion birr, while the bank’s total capital peaked at 4.5 billion birr with a growth of over 19 percent.
For the stated period, the paid up capital of the bank was 3.2 billion birr which grew by over a quarter billion birr in just a single year alone.
Regarding deposit mobilization, the bank collection has reached over 26 billion birr with a fifth increment in a single year from 21.7 billion birr a year ago.
In terms of loans and advances as of June 30, the loan book was 22.2 billion birr which increased by 4.4 billion birr.
The bank that has 326 branches throughout the country, recently disclosed that it will commence its sky scraper head quarter construction project at the heart of the city’s central business district.