Tue. Jun 18th, 2024

Bunna Bank’s Annual Profit Exceeds A billion Birr Mark

Bunna Bank

Bunna Bank, one of the mid-sized private commercial banks in Ethiopia, secured 1.19 billion Birr in annual gross profit from its operations last financial year.

The figure has shown a 26.6% or 249.6 million Birr growth, according to Bunna’s 2021/22 performance report.

“This can be taken as an encouraging result for all the shareholders and also the general employees of Bunna Bank,” said Alemayehu Sewagegn, Chairperson of BB’s board of directors presenting the report to the Bunna’s 13,000 shareholders who met on Sunday.

The Chairperson further stated that the bank was able to mobilize 27.2 billion Birr deposits showing a 6.7 billion Birr increase from the preceding year.

The bank’s total assets grew by 8.16 billion Birr to 34.1 billion Birr while the loans disbursed jumped by 41.3% and reached 25.85 billion Birr as of June 30, 2022.

Its total capital and paid-up capital grew by 32.8% and 32.0%; and stood at 5.1 billion Birr and 3.3 billion Birr, respectively.

Bunna also saw its savings account customers’ numbers total get high, increasing by 41.2% or over 572,000.

“This performance has enabled us to record 1.96 million customers in total at the end of the fiscal year,” said the chairperson.

However, the bank’s foreign currency earnings plummeted to 149.1 million US dollars. The amount is 14.8 million (9.1%) lower than the performance achieved in the preceding year.

Established in 2009, Bunna Bank currently has 343 branches and 2,932 employees. Its officials plan to start building a headquarters after securing 4,530 square meters of land around Hotel D ‘Afrique in Addis Ababa.

Ethiopian Monitor.

By Chala Dandessa

I am Lecturer, Researcher and Freelancer. I am the founder and Editor at ETHIOPIANS TODAY website. If you have any comment use caalaadd2@gmail.com as email contact. Additionally you can contact us through the contact page of www.ethiopianstoday.com.

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