𝗗𝗮𝘀𝗵𝗲𝗻 𝗕𝗮𝗻𝗸'𝘀 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗝𝘂𝗺𝗽𝘀 𝟯𝟰% 𝘁𝗼 𝗕𝗶𝗿𝗿 𝟯𝟭.𝟰 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 𝗮𝘀 𝗣𝗿𝗼𝗳𝗶𝘁 𝗚𝗿𝗼𝘄𝘁𝗵 𝗟𝗮𝗴𝘀

Dashen Bank, Ethiopia’s second-largest private commercial bank, closed the last fiscal year with 31.4 billion Birr revenue, a 34% year-on-year increase. 

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Announced on Thursday morning during the bank’s 32nd ordinary shareholders’ meeting at Millennium Hall, the revenue surge was accompanied by a rapid expansion of total assets, which reached 254 billion Birr, up 38.5% from 183.7 billion Birr a year earlier. 

Customer deposits reached 202.2 billion Birr, marking a 38.7% annual increase. Interest-Free Banking (IFB) continued to gain traction, with IFB deposits expanding by 42.3% to 15.8 billion Birr, reflecting rising demand for Sharia-compliant products and the growing role of diversified funding sources. The bank also generated $1.12 billion in foreign exchange during the year, a 15.8% increase from the previous period.  

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Profitability, however, did not keep pace with revenue growth. Gross profit rose 5.1% to Birr 6.7 billion, up from Birr 6.4 billion a year earlier.

Outstanding loans and advances, including IFB financing, rose to 134 billion Birr, representing a 17.3% year-on-year increase. Dashen strengthened its capital base during the year, increasing paid-up capital to 14.3 billion Birr following an additional 2.3 billion Birr injection.

Chief Executive Officer Asfaw Alemu stated that Dashen recalibrated its portfolio strategy, strengthened liquidity management, and upgraded its risk and compliance frameworks during the year, describing the results as “evidence of institutional resilience in a dynamic operating environment.”

Dashen’s customer base also expanded by 17.4% to 7.88 million, supported by a nationwide network of 906 branches, still one of the largest physical footprints in the country. 

Board Chair Dulla Mekonnen said the year unfolded against mixed global economic signals, noting that the bank continued to prioritize digital transformation with the launch of the Dashen Super App.

“This innovative solution is crucial in advancing our commitment to enhancing customer experience and promoting financial inclusion,” stated the chairman.