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Hibret Bank Reports 5.46 Billion Birr Pre-Tax Profit

BirrMetrics · 2 hours ago · Read the Full Story on BirrMetrics
Hibret Bank Reports 5.46 Billion Birr Pre-Tax Profit
AI SUMMARY

Hibret Bank reported a pre-tax profit of 5.46 billion Birr for the fiscal year ended June 30, 2026, driven by revenue expansion, operational efficiency, and disciplined cost administration.

  • Hibret Bank recorded a pre-tax profit of 5.46 billion Birr for the fiscal year ended June 30, 2026, up from 4.71 billion Birr the previous year.
  • Board Chairman Mesfin Tesema attributed the profit growth to revenue expansion, improved operational efficiency, and disciplined cost administration.
  • Total deposits reached 124 billion Birr, marking a 33.8 percent increase year-on-year.
  • Total loans, including interest-free services, grew by 25.43 percent to 99.49 billion Birr.
  • Total assets rose by 22.22 percent to reach 150.63 billion Birr, while total capital grew by 37.96 percent to 16.95 billion Birr.
  • Foreign exchange generation reached 433.3 million US dollars, an increase of 133.24 million US dollars over the comparable period.
  • The bank's non-performing loan ratio remained below the ceiling set by the National Bank of Ethiopia.
  • The Board urged shareholders to complete payments for unpaid shares to meet the National Bank's new risk-based capital adequacy directive.
  • Legal permits for the bank's headquarters expansion have been secured, design work is under review, and excavation is underway.
  • Hibret Bank became the first bank in the country to obtain ISO 27001 certification in information security.
  • During the fiscal year, the Board held 28 meetings and its four sub-committees convened 48 times.
  • Board-member compensation totaled 2.98 million Birr in monthly allowances and annual service payments.
  • Loans registered in the names of Board members totaled 3.8 million Birr and were confirmed to be performing, with no guarantees registered for Board members or the CEO.
  • The bank contributed 46.7 million Birr to selected charitable organizations.
Read the Full Story on BirrMetrics
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