Zemen Bank reported a 15% increase in profit after tax to ETB 6.75 billion for the 2025/26 financial year, according to a statement shared by Board Chairman Ermias Eshetu.

The bank’s profit before tax reached ETB 9.3 billion, up 13% from the previous year.

Zemen Bank said the quality of its earnings improved as foreign exchange gains, which had been a major contributor to the previous year’s results, declined by 39% as the market normalised.

Meanwhile, total operating income rose 17% to ETB 14.2 billion, while total comprehensive income increased 17% to ETB 6.87 billion.

Earnings per share stood at ETB 539, compared with ETB 683 in the previous year. The bank attributed the decline to its enlarged capital base as it continues to strengthen its position ahead of new regulatory capital requirements.

Zemen Bank said its results reflect stronger performance from its core banking franchise amid an increasingly open and competitive banking sector.