Dashen Bank gross profit grew by 8.3 percent

Dashen Bank gross profit grew by 8.3 percent
Dashen Bank _ Ethiopia
Dashen Bank HQ
Photo : SM

borkena
December 5,2018

Dashen Bank has amassed over 1.14 billion birr gross profit in the past financial year which is an increase of 8.3 percent.

The growth on the profit before tax has stood at 8.3 percent compared with a year ago.
Despite political instability and shortage of hard currency affected the economy the report of Dashen shows that the profit before tax has surpassed 900 million birr for the first time.

According to capital newspaper the report of Dashen shows that the profit before tax has surpassed 900 million birr for the first time and the earnings per share increased standing at 430 birr per a thousand birr share. A year ago the earning per share was 425 birr. The total income of Dashen reached 4.3 billion birr showing an increase of 869 million birr or 25 percent higher than the 2016/17 fiscal year. A year ago the income of the bank was around 3.5 billion birr.

The total capital has also increased by 12 percent and reached 5.9 billion birr, which is one of the highest in the industry. The report stated that the paid up capital has increased by 300 million and that contributed to surpass two billion birr and reached 2.2 billion.

The amount deposited at the banks reached 36 billion birr. The deposit mobilization within a single year increased 8.1 billion birr of 29 percent. At the same time the number of customers is close to two million, the highest numbers in the sector in the country.

For the period indicated, the number of branches has reached at 373 across Ethiopia with the increment of 70 new branches. The bank has created a job opportunity for close to 9,000 individuals as of June 30 this year.

(adsbygoogle = window.adsbygoogle || []).push({});

Join the conversation. Like borkena on Facebook and get Ethiopian News updates regularly. As well, you may get Ethiopia News by following us on twitter @zborkena

The post Dashen Bank gross profit grew by 8.3 percent appeared first on Borkena Ethiopian News.

4
Like
Save

Comments

Write a comment

*