Awash Bank Goes Digital with 77% of Services, But Keeps Planting Branches Across the Nation

Awash Bank has reported strong performance for the 2024/25 fiscal year, marking a year of strong financial performance and grown digital presence. While the bank says 77% of its services are now delivered through digital channels, it also opened 52 new branches, increasing its national network to 989.

This mix of digital growth and physical expansion was shared by the bank’s senior officials during a press briefing held yesterday at the Skylight Hotel in Addis Ababa. CEO Tsehay Shiferaw and his team met with journalists to walk through the numbers, talk about the bank’s direction, and reflect on what has been a busy and productive year.

Despite the digital shift, Awash is showing no signs of stepping back from on-the-ground presence. The bank’s leadership says this approach aims to serve both the growing number of digital-first customers and those who still rely on face-to-face banking across the country.

During the fiscal year, the bank’s total revenue rose to ETB 64 billion, up 77% from the previous year. It also registered over ETB 22 billion in pre-tax profit, supported by growth in customer numbers and loan activities. According to CEO Tsehay Shiferaw, the bank’s performance benefited from aligning its strategy with national economic priorities and focusing on financial inclusion.

More than 3 million new customers joined Awash during the year, pushing its total client base past 15 million. Deposits reached ETB 332 billion, with interest-free banking contributing over ETB 37 billion, or around 11.2% of the total.

Digital banking is clearly becoming central to the bank’s operations. Awash processed over ETB 1 trillion in digital transactions, representing more than 76% of all its transactions. Through its digital lending platform “Awash LeHulum,” over ETB 493 million in loans were extended to more than 301,000 customers, without requiring any collateral.

At the same time, the bank mobilized over USD 2 billion in foreign currency, reflecting a 25% rise from the previous year. It also disbursed loans exceeding ETB 219 billion, a 20% increase, with ETB 16.6 billion going specifically to small and micro businesses. Awash says it reached more than 14,000 borrowers in this segment alone.

With support from the Mastercard Foundation, the bank also delivered ETB 1.3 billion in financing to around 12,000 small enterprises through the MESMER program.