Gadaa Bank reported a pre-tax profit of Br1.05 billion for the 2025/26 financial year, more than doubling from Br444 million a year earlier, according to figures reported by Birrmetrics.
The bank’s profit increased by more than 120 percent as its balance sheet expanded rapidly during the year. Total assets rose 64 percent to Br16.5 billion from Br10.06 billion, while deposits increased by 65 percent.
Total income reached Br2.69 billion, representing a 77 percent increase from the previous year. Expenses also rose by 55 percent, reflecting the costs associated with the bank’s expansion.
Gadaa Bank’s authorized capital stood at Br7 billion, while paid-up capital reached Br1.65 billion.
The bank has also expanded its customer base rapidly since beginning operations. According to figures presented at its fifth regular general assembly of shareholders, Gadaa Bank now serves more than one million customers, reached within three years and six months of commencing operations.
Interest-free banking accounted for 56 percent of the bank’s total income, making it a significant contributor to its earnings. The bank also reported US$85.1 million in foreign currency earnings.
More than 64 percent of the shares offered by the bank have been sold, according to the figures presented to shareholders.
Shareholders approved a proposal to capitalize the profits generated during the financial year, which the bank said would strengthen its capital base and support further expansion.
Gadaa Bank was established with a focus on expanding access to financial services, including interest-free banking, amid growing competition among Ethiopia’s banking institutions.
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