Enat Bank passed the financial year 2020/21 with gross profits of ETB289 million. This is despite liabilities facing the bank including an ETB241.4 million guarantee bond on behalf of Tekleberhan Ambaye Construction PLC (TACON) for which it managed to pay ETB71.1 million.
The bank achieved a 25Pct growth in revenues compared to last fiscal year while generating ETB1.6 billion in total revenues. During the financial year, earnings in the form interest took the major part accounting for 78Pct, while service charges and commission took 13Pct and 9Pct, respectively.
Further, the bank incurred expenses of ETB1.37 billion of which ETB864 million was interest payments for its 180,000 savers. Administrative and salary expenses amounted to ETB267 million and 148 million, respectively.
The bank’s over 18,000 shareholders, 64Pct of which are women, forked paid-up capital of over ETB1.5 billion. From its 180,000 customers, Enat mobilized ETB11.2 billion—a 35Pct growth of ETB2.9 billion.