Abay Bank decided to raise its capital to 12 billion Birr

Abay Bank decided to raise its capital to 12 billion Birr

The Bank’s shareholders endorsed raising the Bank’s capital to 12 billion Birr. This is announced on the Bank’s the 13th Ordinary & 7th Extraordinary Annual Shareholders’ General Assembly held on November 19, 2022, at Inter Luxury Hotel.
In her speech, Ethiopia Tadesse, the Bank’s Board Chairperson, addressed that though the rise of the Omicron variant, the Russia-Ukraine and North Ethiopian conflict has directly influenced the economic situations in the country, the Bank has accomplished a commendable performance in all performance parameters.
Yehuala Gessesse, Chief Executive Officer of the Bank, on his part said, the Bank generated Birr 4.4 billion revenue, raise its branch networks to 373 and grow the customer base close to 1.7 million during the 2021/22 budget year.

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