Board Chairman’s Message

It gives me great pleasure and a sense of pride to present our Bank’s Annual Report, on behalf of the Board of Directors, for the year 2015/16 to our esteemed shareholders.

Over the years, the Bank has been able to record good results in both financial and non-financial business endeavors. In view of total financial performance, the Bank registered a gross profit of Birr 192 million, showing a growth of 14 percent as compared with the previous year. Besides, the Bank’s deposit has amassed to Birr 4.8 billion, revealing a growth of 33% compared to the previous year’s record. As a result of fresh loan injection of Birr 1.9 billion, the total outstanding loan has gone up to Birr 3.2 billion with a growth of 34% from its last year’s performance. Likewise, the total assets of the Bank reached Birr 6.2 billion showing an increase of 35% from the previous year. At the same time, the paid up capital reached Birr 719 million; increased by 31% from the previous year.

These encouraging results were obtained as a result of aggressive branch expansion, enhanced operational excellence, diversified income generating activities, efficient organizational development, and committed employees. Besides, we have been able to build a strong, customer oriented, performance driven corporate identity for our Bank. These include fast pace of branch expansion - that has increased by 22 new branches in the year alone, enhancement of customer base, introduction of new services/ products, build good relationship with influential customers, enrichment of branches effort in deposit mobilization, image building works, etc.

So far, Abay has made efforts to introduce innovate products and services and they are ever widening and becoming a basis for better capacity. Today, Abay Bank relies on a robust business strategy; with a mix of highly skilled, dedicated, young and experienced workforce; efficient organizational structure and state-of-the art technology. In the fiscal year, interest free banking as well as youth, women and children special saving account services, etc. have been introduced. With all these qualities, the Bank has now become able to engage on all banking services and reached most of the unbanked areas.

Furthermore, in addition to securing a land for its head quarter in Addis, Abay has also been successful in securing lands in other two towns, namely in Dessie and Bahir Dar. Besides, the preparation is underway to construct our own building here in Addis and in Bahir Dar city soon. The Bank has continued to strengthen its achievements working hand-in-hand with its shareholders. On the other hand, the Bank has planned to raise its deposit level, intensifying product innovations, fortify IFB-banking, Multi-Channel and Diaspora banking services, strengthening good governance and human resource development. As well, branch expansion will also continue as one of the critical business development strategies.

Finally, all these financial and non-financial achievements would not have been true without the cooperation of our far-sighted shareholders, the dynamic management in place, National Bank of Ethiopia, the energetic staff and the alliance of our customers. Therefore, on behalf of the Board of Directors of Abay Bank, I would like to take this opportunity to express my sincere gratitude to all of them. And again, I would like to call up to enhance and maintain their noble culture of togetherness and support for further marvelous achievements. 


Thank you,


Tadesse Kassa,
Chairman - Board of Directors