Bunna International Bank Held the 7th AGM of the Shareholders
BIB Earns Birr 250.4 Million Profit Before Tax
Bunna International Bank s.c. delivered a strong performance underpinned by a remarkable progress made in both deposits and loans during 2015/16 FY. This was disclosed, during the 7th Annual General Meeting of Shareholders held at the Millennium Hall on November 20, 2016.
Speaking on the occasion, Eng. Tibebu Eshete, Chairperson of the Board of Directors stated that, BIB has registered remarkable achievement during the budget year that ended on June 30, 2016. The Bank’s profit has increased by 38 percent and reached Birr 250.4 million before tax (Birr187 million after tax ).
In relation to deposit mobilization, which is crucial in boosting banking activity, a growth of 54 percent (Birr 1.9 billion) was registered and the Bank’s total deposit reached Birr 5.46 billion, at the end of June 30, 2016.
On the other hand, the Bank’s outstanding loans and advances during the fiscal year has shown a 51 percent increase and reached Birr 3.7 billion.
During the period, the number of account holders reached 175 thousand which is greater than what was projected. FX mobilization also increased by 23.1 percent and stood at 98.5 million USD.
BIB’s assets also surged by 53.2 percent (Birr 2.4 billion) and stood at Birr 6.8 billion, while the total capital of the Bank reached Birr 961 million which is close to 42 percent growth.110th
The total number of permanent jobs created has reached close to 1,000 during the year ended on June 30, 2016.excluding various outsourced and contract job opportunities.
• Bunna International Bank S.C. opened its 129th branches entitled "Bunna Logia Branch".
These new Branches are integrated to the core banking system of the bank, providing a full-fledged modern banking service.
The opening of these branches would pave the way for BIB customers to get served in their surroundings.
Bunna International Bank S.C. will soon open its branches in city and outlying regions of the country with the aim of serving customers on their doorstep.