The Bank’s President/CEO, Ato Araya G/Egizhaber, shared the Board Chairman’s view and pointed out that the high performance achieved was the outcome of the concerted efforts exerted by the Bank’s leadership and employees.
According to the unveiled audited Annual Report, the Bank’s paid-up capital reached Birr 633.2 million making it at the top list among the private banks whereas total capital, including reserves & retained earnings, also registered Birr 1.1 billion. Assets registered a record high of Birr 5.7 billion.
Bank’s Board of Directors declared an all time high Gross Profit of Birr 317.5 million, which has resulted in Net Profit of Birr 223.3 million for the fiscal year 2009/10.
It was further noted that the Bank mobilized deposits amounting to Birr 3.9 billion through its 51 branches and at the same time continued channeling funds to the economy, resulting in Birr 2.5 billion loans.
The president stated that this year’s annual assembly is conducted by the time the Bank has introduced card banking technology to the county’s financial market, speeding-up migration to an advanced & ISO standard Core Banking solution and also under finalization of preparations to erect 22-Storey Headquarters Building Complex at Stadium area. He further noted that the number of Shareholders reached over 2,140 and staff strength has become 1,859. He finally expressed his appreciation and gratitude to all stakeholders that have been in full support of the Bank and urged them to take it forward.
At last, the Bank organized a grand reception at Hilton Addis Ababa and colorfully celebrated the occasion with the Shareholders, Top clients, NBE officials, Banks’ & Insurances’ CEOs, various Institutions' Heads and other Stakeholders.