Abay Bank S.C. shareholders endorsed to raise the Bank’s capital to 12 billion Birr.
This was announced on the 13th Ordinary and 7th Extraordinary Annual Shareholders’ General Assembly held on November 19, 2022, at Inter Luxury Hotel.
Ethiopia Tadesse, the Bank’s Board Chairperson on her speech 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 that the Bank has generated Birr 4.4 billion revenue, raised its branch networks to 373 and grow customer base close to 1.7 million during the 2021/22 fiscal year.
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