Dashen Bank has decided to boost its paid up capital to 12 billion Birr.
As of July 2021, its paid up capital was 5.4 billion Birr and it has decided to raise its paid up to 12 billion Birr in the coming two years.
The Bank held its 28th ordinary and 25th extra ordinary meeting at Mecharie Meda last week.
Boosting the paid up will enhance Bank’s competitiveness through scaling-up capacity of providing loans and promotion of investments.
Started in 11 shareholders, Dashen has now 2065 shareholders.
Dashen has reported an annual profit of 2.4 billion Birr before tax during the financial year concluded on July 2021.
Dashen mobilized 21.1 billion Birr in deposits, and its total deposit has reached 74.6 billion Birr, which registered 39.4 percent increase from last year’s performance, according to Niway Beyene, Dashen Bank’s Board of Directors Chairperson.