The bank distributes 37.6% of its income per share to its shareholders. Every year, profit rises by 36.8%. Following a pre-tax profit of Birr 3.77 billion in the fiscal year 2023–2024, Zemen Bank announces to its shareholders an earnings per share (EPS) of 37.6%. Its annual report, which was presented to the public yesterday at Millennium Hall during the 16th Annual General Meeting of shareholders, contained this information.
The Bank’s earnings increased by Birr 1.01 billion, or 36.8%, over the previous year’s performance, and it achieved a 100% success rate against the fiscal year plan. Over the past five years, the Bank has given its shareholders an average of 44.28 percent of its earnings per share. Additionally, major performance metrics showed satisfactory results for the fiscal year that ended. At Birr 59.2 billion, the Bank’s total assets grew by 23.9 percent. At year-end (June 2024), customer deposits came to Birr 43.61 billion, a 17.6% rise from the previous year. Loans and advances totalled Birr 35.63 billion, an increase of 13.5 percent from the year before.

The Bank raised USD 566 million in foreign exchange inflows across the year, or USD 47.2 million on average each month. By the end of the fiscal year, the Bank had 125 branches around the country. The Bank has maintained a sound financial position in terms of its capital base and liquidity condition. The Bank now has 7.5 billion Birr in paid-up capital, up 2.45 billion Birr from the previous year.
Currently, the Bank’s subscribed capital is at 14.97 billion Birr. The capital adequacy ratio as of June 2024 was 30.6%, significantly more than the 8% minimum that is necessary. This demonstrates the Bank’s strong capitalisation, which enables it to resist outside economic shocks. The chairperson of Zemen Bank’s board of directors, W/ro Enye Bemir, noted in her statement that the bank had demonstrated remarkable perseverance in navigating a challenging economic climate during fiscal year 2023–2024 and had achieved exceptional results across a variety of performance measures.

Zemen Bank CEO Dereje Zebene stated in his statement that “Our Bank’s commitment to customers and stakeholders has remained steadfast.” We have continued to expand our branch network, investments in IT infrastructure, digital capabilities, and service offerings. In order to navigate this difficult climate, we have placed a strong emphasis on operational effectiveness and cautious risk management. Regarding the future, Ato Dereje added that the Bank will make an effort to modify its plans in order to better accommodate the current economic climate, the growing interest in ESG (Environment, Social, Governance), and the rise in regulatory action and oversight that continues to influence trade dynamics.
“The Bank will prioritise product differentiation, delivery methods, and a distinctive customer experience in order to mobilise resources,” he added. Additionally, he stated that the Bank aims to support economic growth by providing financing solutions tailored to the needs of its diverse clientele, which includes both large and small businesses. Zemen Bank has achieved a number of noteworthy achievements this year, including the successful development of strategic partnerships with IFC, which made it possible for the Bank to become a new member of the International Finance Corporation’s Global Trade Finance Program (GTFP). A financial services partnership agreement was also signed by Zemen Bank and Safaricom.
In 2008, Zemen Bank S.C. was founded.