Zemen Bank amasses gross profit of 1.2 bln Birr

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Zemen Bank announced Saturday that it has amassed a gross profit of 1.2 billion Birr in 2020/2021 fiscal year, which was concluded in July 2021.

Zemen’s total asset also reached 25.2 billion Birr as of July 2021, which has registered a 36.66 percent higher than the previous year figure.

As of July2021, its paid-up capital reached 2.749 billion Birr from 1.8 billion Birr in the previous year, according to Ermias Eshetu, Board of Directors Chairperson at Zemen Bank said in his speech, where he delivered at the Golf Club during the 13th regular and 11th extraordinary shareholders meeting held on Saturday.  

With regard to deposits, Zemen has collected 4.6 billion Birr in the stated period, which has registered an increase in 31.9 percent.

In its 12 year history the Bank has applied two different five year strategic plans.

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