Bunna Bank bags gross profit of 937 mln Birr

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Bunna Bank S.C. has reported a gross profit of 937 million Birr in the concluded fiscal year in June 2021.

The Bank held its 12th general and 5th extraordinary shareholders meeting at Gold Club on Sunday.

Sewale Abate (PhD), Chairperson of the Board of Directors of Bunna Bank said the Bank’s total deposit reached 20.4 billion Birr in the fiscal year, which increased by 6.58 billion Birr from the previous year.

Bunna’s increase in the number of saving accounts that show a 78.6% increase from the previous year, contributed for the boost in total assets, according to board of directors report. The bank has increased its customers number to more than 1.35 million.

The year was a profitable one despite the challenges posed by the effects of the Covid-19 pandemic and other problems that tested Ethiopia’s economy, said Sewale.

Bunna’s total asset meanwhile has reached 25.96 billion Birr, which has increased by 7.08 billion Birr from the previous year performance.

On the other hand, the loan disbursement has also been encouraing  one, according to the report. A provision of loan show an increase in 6.73 billion Birr from the previous year. And due to this perfomance, the overall loan disbursements to different sectors of the economy has increased to 18.29 billion Birr.

With regard to interest-free banking services such Wadiah and Kerd, Bunna has attracted 45,672 fresh customers—pushed its total customers in the services to more than 576 thousand.

Throughout its 12 yerars journey Bunna has been registering laudable performances that assures competitiveness in the banking sector.

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