Ahadu Bank, one of the largest private banks that recently joined Ethiopia’s financial industry reveals that it has managed to collect more than 2 billion birr in deposits with more than 21.6 million dollars in foreign currency generated, under one year.

The bank which was established with more than 10,000 shareholders in its 2nd regular general meeting with shareholders on December 2, 2023, through Anteneh Sebsebie, board of director’s chair, attributed the bank’s recent success to heavy investment on various infrastructure that lured in profits to the firm.

According to the bank’s CEO, Sefialem Liben, “The bank has overcome certain challenges and has now opened 75 branches providing services to over 200,000 customers through branches and digital technology.”

The bank is working together with microfinance, savings and loan associations as well as financial technology institutions to make wealth collected accessible to many.

At the annual meeting, new board members were elected to manage the bank in its next phase of operations for the next three years.