The National Bank of Ethiopia (NBE) has formally approved the appointment of Abduljuhad Hassen Muhammed as the Chief Executive Officer of Shabelle Bank S.C. The confirmation, issued by the regulator on August 7, 2026, follows a nine-month period during which Abduljuhad served as the bank's acting CEO.
Abduljuhad brings over 17 years of experience in the Ethiopian financial sector to the permanent role. His career includes tenures at Wegagen Bank, Hibret Bank, Oromia Bank, and ZamZam Bank, where he held various positions ranging from personal banking and loan management to digital services and corporate banking leadership. He joined Shabelle Bank in July 2025 as Vice President for Banking and Microfinance Operations before stepping into the acting CEO role in November 2025.
His appointment coincides with a period of rapid expansion for the Islamic bank. During the 2025/26 fiscal year, Shabelle Bank reported substantial growth across key financial metrics, which can be analyzed alongside other financial institutions in the market:
| Indicator | Growth/Performance |
|---|
| Profit Before Tax | Increased more than tenfold to 231 million Birr |
| Customer Deposits | Rose 122% to over 4.7 billion Birr |
| Financing Portfolio | Increased 101% to 3.5 billion Birr |
| Total Assets | Grew 55% to 9.7 billion Birr |
Beyond its financial performance, the bank reported serving over 425,000 customer accounts and approximately 1.7 million digital wallet accounts. Operating income for the fiscal year reached 941 million Birr, representing a 66% increase compared to the previous year, while operating expenses rose by 35% to 709 million Birr. For further insights into the broader data intelligence regarding the industry, stakeholders continue to monitor these growth trends closely.
Looking ahead, Abduljuhad aims to maintain this growth trajectory by prioritizing operational efficiency, enhanced customer service, and an accelerated digital transformation strategy. His previous experience managing digital services is expected to inform the bank's ongoing efforts to expand its reach and service quality in the competitive domestic market, as reported in the latest Aksion News.
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