Berhan Bank increases profits

(Photo: Anteneh Aklilu)

Berhan Bank has registered over a 41 percent higher profit in the 2018/19 budget year.
The total income of the bank for the 2018/19 financial year has stood at 2.2 billion birr with hike of 43 percent increment. A year ago the bank total income has over 1.5 billion birr.
In the 2018/19 financial year Berhan has amassed over a half billion birr and stood at 580 million birr profit before tax that has increased by 41 percent compared with the preceding period.
On the stated period the net profit of the bank after tax has climbed to 458 million birr from 328 million of a year ago.
At the same time the earnings per share has increased to 24.6 from 30.4 of the previous year.
The asset of the bank has reached at 19.2 billion birr that growing by over 36 percent compare with 14.1 percent of the 2017/18 financial year performance.
In the same reported period the paid up capital of the bank has reached at two billion birr that was stood at 1.7 billion birr a year ago. Meanwhile the total capital has increased by 27 percent and reached at 2.8 billion birr.
The annual report of the bank indicates that the bank total deposit mobilization has climbed to close to 15 billion birr with additional 4.1 billion birr fresh mobilization for the stated period.
For such achievement registration the bank has introduced e banking products and services besides aggressive branch expansion, according to the annual report. At the end of the financial year, June 30, 2019 the number of branches of the bank has reached at 200 with additional 18 new branches for the year.
On its digital financial scheme the bank is expanding its mobile top up, app based mobile banking, internet banking, school pay, and other technology based payment schemes.
The bank that recently celebrates its 10th anniversary has dispersed fresh 3 billion birr loan and advances that climbed by third and the total outstanding loan of the bank has reached at 10.2 billion birr.
At the same time the non performing loan (NPL) has stood at 3.5 percent that is lower than the maximum level that the supervisory body set.