ZamZam Bank announced a pre-tax profit of Birr 148 million for the 2023/24 fiscal year. The bank’s total income for the year exceeded Birr 850 million.
During its general shareholders’ meeting, Board Chairman Nasser Dino (PhD) highlighted the bank’s achievements across key performance indicators. Deposits grew by 38% compared to the previous year, reaching Birr 6.8 billion. By the day of the meeting, deposits had surged to Birr 7.7 billion.
ZamZam Bank CEO, Ms. Melika Bedri, reported a 66% increase in customer numbers, with the bank now serving over half a million depositors. She emphasized the role of digital banking services, which account for a significant portion of the bank’s financial activities. Digital banking users increased by more than 150% during the fiscal year.
The bank’s total assets reached Birr 9.3 billion, reflecting a 36% growth compared to the same period last year. ZamZam Bank operates 89 branches nationwide and employs over 1,500 staff.
Notably, the bank introduced Ansar Digital Financing, a fully Sharia-compliant digital financial service, in the current fiscal year.
Source: Sheger FM 102.1
