Bunna Bank Schare Company today announced making 1.35 billion Birr profit before tax during the budget year concluded June 30, 2023.
The Bank, which held its annual shareholders meeting this morning in Addis Ababa, Ethiopia, has also mobilized close to 36.6 billion Birr deposits during the year. The annual report of the Bank shows that the deposits has increased by 9.4 billion Birr compared to the previous budget year.
“…This can be taken as an encouraging result for all the shareholders and also the general employees of Bunna Bank,” said Ambassador Alemayehu Sewagegn Board Chairman of the Bank, who also stated that the total amount of loans the Bank extended during the year has increased to 8.92 billion Birr – 34.5 percent up from the previous year.
In his report the board chairman also indicated that the total capital of the Bank has increased by 1.5 billion Birr reaching 6.5 billion Birr at the end of the budget year. Bunna bank has also opened 122 new branches in the country during the budget year, which increased its total number of branches to 465.
The board chairman also stated that Bunna bank is set to build G+23 building on 1,043 square meters of land in the capital, Addis Ababa. In addition, it has also acquired 1,550 square meters of land in Nifas Silk area in Addis Ababa. Likewise, the Bank is also expecting to secure 4,530 meter square of land for building its headquarters around Hotel D’Afrique.