Zemen Bank, a pioneer of “Boutique Banking” in Ethiopia, has announced an extraordinary financial performance for the first half of the 2018 E.C. (2025/26) fiscal year. The bank has reached a historic milestone by pushing its total asset value to 106 billion Birr, signaling a new era of competitiveness in the private banking sector.
Performance by the Numbers: Zemen Bank’s Success in Figures
During a press briefing, the Bank’s CEO, Ato Dereje Zebene, revealed that the achievements of the past six months represent significant growth compared to the same period last year.
Profitability Secrets and Capital Strength
Reporting a profit of over 5 billion Birr in just six months highlights Zemen Bank’s operational efficiency and its low cost-to-income ratio.
By raising its paid-up capital to 14 billion Birr, Zemen Bank is well-positioned to meet the National Bank of Ethiopia’s (NBE) requirement for private banks to reach 20 billion Birr capital by 2030. This robust capital base provides the bank with the leverage to finance large-scale industrial and infrastructure projects, securing its place among the industry giants.
Leadership in Forex and Trade Finance
CEO Dereje Zebene emphasized that the bank’s growth is intrinsically linked to the country’s ongoing economic reforms. Zemen Bank continues to play a leading role in:
Foreign Exchange Generation: By incentivizing exporters and streamlining remittance flows, the bank significantly contributes to the nation’s foreign currency reserves.
Investment Partnership: Providing tailored financial solutions to both local and foreign investors benefiting from recent macro-economic policy shifts.
Digital Transformation: Leveraging advanced platforms like Zemen Mobile and Corporate Internet Banking to drive financial inclusion, resulting in a deposit surge to 80 billion Birr.
A 17-Year Journey: From Concept to Corporate Giant
Established in 2008 (2001 E.C.) with a unique “Single Branch Model,” Zemen Bank has evolved into a powerhouse of the Ethiopian financial landscape.
”This result reflects the bank’s steady growth and the deep-rooted trust our customers have in us,” — Ato Dereje Zebene
Over the past 17 years, the bank has focused on:
Service Excellence: Prioritizing technology-driven, “queue-free” banking experiences.
Corporate Banking: Building strategic partnerships with large-scale enterprises to capture significant market share.
Stability: The bank’s state-of-the-art headquarters in the financial district of Addis Ababa stands as a symbol of its long-term vision and structural strength.
Reaching 106 billion Birr in total assets cements Zemen Bank’s position in the elite tier of Ethiopia’s “Billionaire Banks Club.” As the Ethiopian market prepares for the entry of foreign banks, Zemen’s strong capital and technological readiness offer a blueprint for domestic success.
The bank announced that it aims to replicate this success in the second half of the year, targeting record-breaking annual returns.