Zamzam Bank Sh.Co., Ethiopia’s first fully interest-free banking service provider, has officially secured a capital market license from the Ethiopian Capital Market Authority (ECMA). Announced during a press conference, this regulatory milestone permits the bank to officially register and trade both existing and new shares on the country’s upcoming public capital market, positioning it for broader equity mobilization.
The strategic approval is primarily aimed at accelerating the financial institution’s ambitious long-term growth plans. Bank executives stated that entering the formal capital market will directly support Zamzam’s overarching objective to scale up its total capital to 15 billion Birr, leveraging public trading to attract fresh investments.
Alongside the licensing announcement, the bank released its financial performance report for the recently concluded fiscal year, highlighting substantial upward trajectory across key metrics. The bank’s total customer deposits surged by 81% to reach 21 billion Birr, while net profits grew by 35% to hit 1.8 billion Birr.
Further financial disclosures revealed that Zamzam Bank’s paid-up capital experienced a 123% increase, now standing at 5.64 billion Birr. Additionally, the institution expanded its physical footprint across the nation, growing its branch network to a total of 130 operational locations.
Bank leadership emphasized that these financial and regulatory milestones reflect the institution’s robust growth trajectory and operational resilience. Moving forward, the management noted that these developments will significantly enhance Zamzam Bank’s capability to contribute to Ethiopia’s evolving financial ecosystem and broader macroeconomic development.