Ethiopia’s Dashen Bank says as deposits outstrip loans

Ethiopia’s Dashen Bank says as deposits outstrip loans

By Kirubel Tadesse

Though it has just pocketed a net profit of 250 million birr, a record for an Ethiopian private bank, Dashen Bank says the current reserve requirement could potentially negatively affect its future performance.
Dashen Bank is the most profitable private bank in Ethiopia with last fiscal year’s takings a 10 million birr improvement on the previous year’s profits.

The bank’s financial statements show that during the fiscal year that ended on June 30, 2009, total corporate deposits had increased from 6.2 billion birr to 7.9 billion birr – an annual growth rate of 29 percent. However, total outstanding loans and advances given in the period in review stood at 4.45 billion birr, only registering a one percent (50 million) growth from last year.

Read Full Report from Capital