Tsedey Bank has reported a gross profit before tax of ETB 4.3 billion, as the bank showcased significant improvements across its core operations during a performance review and planning forum held at its headquarters.

The three-day forum, held from July 26–28, brought together members of the bank’s Board of Directors, senior executives, district managers, branch managers from 637 branches nationwide, and invited guests to review the bank’s 2025/26 performance and discuss the implementation of its 2026/27 strategic plan.

Speaking at the event, President Dr. Yohannes Ayalew said the bank had achieved strong results in deposit mobilization, lending, foreign exchange generation, liquidity management, and loan recovery. He said the forum aimed to build consensus on the next phase of the bank’s growth.

Dr. Yohannes attributed the progress to three institutional strategic reform initiatives implemented over the past five months, stating that they had fundamentally transformed the bank’s operations.

Among the key performance highlights, the bank said it resolved customer complaints related to Real-Time Gross Settlement (RTGS) transfers within two months. During the reporting period, incoming RTGS transactions reached ETB 51.05 billion, while outgoing transfers totaled ETB 49.61 billion, resulting in a net positive balance of more than ETB 1.43 billion.

The bank also reported strong deposit growth, with total deposits increasing from ETB 45.7 billion at the beginning of the fiscal year to ETB 61.2 billion, surpassing its target by 101%.

Foreign exchange earnings reached USD 53.7 million, exceeding the bank’s target of USD 17.8 million by 202%.

Loan recovery also outperformed expectations, with collections reaching ETB 30 billion, equivalent to 124% of the original target of ETB 24.2 billion. Total outstanding loans stood at ETB 57 billion, representing 104% of the bank’s lending plan.

The bank further reported a significant improvement in asset quality, reducing its non-performing loan (NPL) ratio from 21.3% to 6.4%, accompanied by a reduction of ETB 6.1 billion in problematic loans during the year.

According to Dr. Yohannes, the bank’s pre-tax profit of ETB 4.3 billion exceeded its planned target by more than eightfold. He credited the achievement to the efforts of the bank’s employees, management, Board of Directors, and other stakeholders, while calling for continued collaboration to achieve even stronger results in the 2026/27 fiscal year.

Board Chairman Dr. Deres Sahlu said the bank’s recent performance reflected the impact of institutional reforms and timely governance decisions. He noted that the Board had focused on strengthening leadership and improving operational efficiency, enabling the bank to achieve substantial progress within a short period.

Tsedey Bank said it remains committed to its long-term vision of becoming one of Ethiopia’s four largest banks by 2030 and ranking among Africa’s 40 largest commercial banks by 2040.