Overview
Ethiopia's first full-fledged interest-free (Sharia-compliant) bank, licensed by the National Bank of Ethiopia and operational since 2021. Total assets reached Birr 29.2 billion as of 30 June 2026 (audited).
Audited results for the bank for the year ended 30 June 2026: profit after tax of ETB 1.070 billion, up 13.2%, and total assets of ETB 29.242 billion. Revenue (financing and investment income after profit shared with mudarabah depositors, plus fee and other income, as in earlier years) was ETB 3.075 billion, up 40.2%. Customer deposits were ETB 20.387 billion, financing to customers ETB 15.917 billion, and the stated capital adequacy ratio 23.72%.
SourceETB 3.08B
ETB 1.07B
ETB 29.24B
SourceETB 1.52B
Performance
Income statement
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC | 2018EC |
|---|---|---|---|---|---|
| Total Revenue | ETB 40.58M | ETB 516.81M | ETB 847.55M | ETB 2.19B | ETB 3.08B |
| Total Expenses | ETB 186.99M | ETB 492.67M | ETB 699.81M | ETB 959.55M | ETB 1.52B |
| Net Profit | -ETB 146.41M | ETB 24.14M | ETB 110.31M | ETB 945.52M | ETB 1.07B |
| Income From Financing And Investment | ETB 6.85M | ETB 337.57M | ETB 618.14M | ETB 940.39M | ETB 2.05B |
| Profit Shared To Mudarabah Depositors | ETB 338.27K | ETB 8.07M | ETB 10.32M | ETB 5.9M | ETB 17.91M |
| Net Profit Income | ETB 6.51M | ETB 329.51M | ETB 607.82M | ETB 934.49M | ETB 2.04B |
| Other Operating Income | ETB 34.07M | ETB 187.31M | ETB 239.73M | ETB 1.26B | ETB 1.04B |
| Profit Before Tax | -ETB 146.41M | ETB 24.14M | ETB 147.74M | ETB 1.23B | ETB 1.56B |
| Income Tax Expense | ETB 0 | ETB 0 | ETB 37.43M | ETB 288.67M | ETB 485.13M |
Balance sheet
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC | 2018EC |
|---|---|---|---|---|---|
| Total Assets | ETB 3.16B | ETB 7.49B | ETB 9.38B | ETB 16.58B | ETB 29.24B |
| Total Deposits | ETB 1.59B | ETB 4.98B | ETB 6.87B | ETB 11.63B | ETB 20.39B |
| Total Loans | ETB 689.11M | ETB 3.58B | ETB 4.63B | ETB 6.42B | ETB 15.92B |
| Equity | ETB 1.22B | ETB 1.61B | ETB 2.03B | ETB 3.58B | ETB 7.03B |
| Paid Up Capital | ETB 1.34B | ETB 1.7B | ETB 2.05B | ETB 2.66B | ETB 5.64B |
| Total Liabilities | — | — | — | — | ETB 22.21B |
Cash flow
| Fiscal year | 2017EC | 2018EC |
|---|---|---|
| Net Cash From Operating Activities | ETB 3.61B | -ETB 1B |
| Net Cash From Investing Activities | -ETB 726.4M | -ETB 1.41B |
| Net Cash From Financing Activities | ETB 584.25M | ETB 2.37B |
| Cash And Cash Equivalents At End Of Year | ETB 6.51B | ETB 6.46B |
| Fiscal year | Dividend declared | Per share (ETB) | Payout ratio |
|---|---|---|---|
| 2014EC | — | — | — |
| 2015EC | — | — | — |
| 2016EC | — | — | — |
| 2017EC | — | — | — |
| 2018EC | — | — | — |
Financial health
—
—
23.7%
—
Cost-to-income
—
Liquidity ratio
—
Competitors
Peer institutions in the same sector, latest fiscal year.
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Net profit · 2017EC
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Net profit · 2018EC
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Net profit · 2018EC
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Net profit · 2017EC
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Net profit · 2018EC
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Net profit · 2018EC
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Net profit · 2018EC
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Net profit · 2017EC
-ETB 2.98B
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Net profit · 2018EC
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Net profit · 2018EC
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Net profit · 2018EC
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Net profit · 2018EC
ETB 2.84B
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Net profit · 2017EC
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Net profit · 2018EC
ETB 4.55B
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Net profit · 2017EC
ETB 2.1B
Ahadu Bank
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Net profit · 2017EC
ETB 399.39M
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Net profit · 2017EC
-ETB 271.4M
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Net profit · 2017EC
ETB 72.31M
Amhara Bank
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Net profit · 2017EC
ETB 592.33M
Development Bank of Ethiopia
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Net profit · 2017EC
-ETB 6.84B
Gadaa Bank S.C.
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Net profit · 2018EC
ETB 759.23M
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Net profit · 2017EC
ETB 65.53M
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Net profit · 2018EC
ETB 4.02B
Hijra Bank
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Net profit · 2017EC
ETB 488.68M
Shabelle Bank
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Net profit · 2017EC
ETB 20.95M
Siinqee Bank
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Net profit · 2017EC
ETB 3.35B
Siket Bank
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Net profit · 2017EC
ETB 1.24B