Zemen Bank 2024/25 Profit Soars to Record Levels
TL;DR
Zemen Bank reported a 148% profit increase to 8.2 billion birr in the 2024 to 2025 fiscal year. CEO Dereje Zebene attributed the success to operational efficiency and strategic resource use.
Zemen Bank S.C., one of Ethiopia’s most efficient banks, has reported a record-breaking financial performance for the 2024/25 fiscal year, with profits and revenues hitting historic highs. The results highlight the bank’s strong operational strategy and ability to adapt in a changing financial environment.
Key Financial Metrics (2024/25)
- Profit before tax: 8.2 billion birr — a 148% increase from 3.3 billion birr in 2023/24
- Total revenue: 14.4 billion birr, up 86% year-on-year
- Total assets: 88.6 billion birr, up 50% from last year
- Customer deposits: 64.7 billion birr, a 48% increase
- Foreign currency mobilization: USD 588 million, up 4%
- Earnings per share (EPS): 68.3%, marking record returns for shareholders
“Timely and proper use of available resources was key to achieving these results,” said CEO Dereje Zebene, highlighting the bank’s focus on operational efficiency and strategic growth.
Drivers of Growth
Zemen Bank’s profit surge stems from:
- Strong interest income and foreign exchange operations
- Careful credit portfolio management
- Strategic operational efficiency and cost control
These factors combined to deliver significant year-on-year growth and continued investor confidence in the bank’s performance.
Capital Strength and Resilience
The bank’s paid-up capital reached 9.4 billion birr, up from 7.45 billion birr in 2023/24, ensuring a solid foundation for future expansion. Zemen continues to prioritize smart growth, focusing on efficiency and profitability rather than rapid branch proliferation.
Positioning for Ethiopia’s Changing Financial Sector
With ongoing reforms in Ethiopia’s financial landscape, including adjustments in exchange rates and the development of a local capital market, Zemen Bank has positioned itself to take advantage of emerging opportunities.
“These changes are shaping a more competitive and transparent banking environment, Zemen Bank is fully prepared to adapt and lead in this evolving market.” Dereje said.
Looking Ahead
With record profits, rising deposits, and a strong capital base, Zemen Bank has established itself as a leader among Ethiopian banks. The bank’s disciplined growth strategy, operational efficiency, and forward-looking approach leave it well-positioned for continued success in 2025 and beyond.
