Dashen Bank has reported a strong financial performance for the completed fiscal year 2017, registering a record total income of Birr 31.4 billion. The figure represents a 34 percent increase compared to the previous fiscal year, underscoring the bank’s continued growth momentum.
According to the bank’s annual performance report, total assets rose sharply to over Birr 254 billion, reflecting a 38.5 percent increase from Birr 183.7 billion recorded a year earlier.
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The bank’s deposit base also expanded significantly, reaching Birr 202.2 billion, up 38.7 percent year-on-year. Of the total deposits, interest-free banking services under the Sharik brand accounted for Birr 15.8 billion, highlighting growing customer adoption of alternative banking products.
Despite the broader expansion, Dashen Bank posted a net profit of Birr 6.7 billion during the fiscal year, marking a 5.1 percent increase compared to the previous year.
Commenting on the performance, Ato Dula Mekonnen, Chairman of the Board of Directors, said the fiscal year was notable for Dashen Bank’s leadership in Ethiopia’s digital transformation, particularly with the introduction of the Dashen SuperApp, a first in the country’s banking industry.
Meanwhile, Ato Asfaw Alemu, Chief Executive Officer of Dashen Bank, expressed appreciation to shareholders for their continued confidence, customers for their trust, and employees for their commitment to delivering quality service throughout the year.
Dashen Bank’s latest results reinforce its position as one of Ethiopia’s leading financial institutions amid a rapidly evolving banking and digital finance landscape.
