Enat Bank S.C., one of the private banks in Ethiopia, made a net profit of 79 million Birr in the past fiscal year. The performance of the bank shows a 59 percent increase when compared to the preceding year.
The gross profit of the bank was 211 million Birr, which is a 57 percent increase from the preceding year.
The bank’s paid up capital also reached 565 million Birr from 383.3 million Birr. This enabled it to attain the minimum paid up capital requirement set by the National Bank of Ethiopia (NBE).
In the past fiscal year Enat Bank managed to distribute a total loan and advances of 1.6 billion Birr to its customers. Its asset has also reached 3.2 billion Birr from 2.21 billion Birr. Enat has also managed to
increase its deposit mobilization to 2.3 billion Birr from 1.5 billion Birr.
increase its deposit mobilization to 2.3 billion Birr from 1.5 billion Birr.
In addition to these, Enat has managed to benefit 544 women through its non-collateral loan scheme.
Established in 2011, 60 percent of Enat Bank’s shareholders are females.
Source: Fortune
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