Bank of Abyssinia's non-performing loans tripled to 15.64 billion birr in the year ended 30 June 2026, from 5.18 billion birr a year earlier, Ethiopian Business Review reported on 12 October, citing the bank's audited annual report.
The rise came as the private lender expanded its loan book by 57 billion birr, according to the same report.
The bank held its annual general meeting on 10 October 2026 at the Adwa Victory Memorial Hall in Addis Ababa, Addis Fortune reported, with a profit before tax of 15.85 billion birr for 2025/26, up 56.9%. Net profit rose 58.1% to 11.54 billion birr, the newspaper said.
Bekalu Zeleke is the bank's president and Mekonnen Manyazewal its board chairperson, according to Addis Fortune.
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The disclosure comes as financial experts urge the National Bank of Ethiopia (NBE) to expand its supervisory capacity as the banking sector grows, Capital Ethiopia reported on 27 September 2026. Those calls followed Directive No. FS/SD/442/2026, issued by NBE Vice Governor Solomon Desta, which prohibited commercial banks from calculating, compounding or paying interest on savings accounts before the maturity of the deposit term, the newspaper said.
In an earlier Financial Stability Report, the central bank warned that the financial sector was threatened by significant depositor concentration in the banking sector, Capital Ethiopia reported.
Ethiopia moved to a market-based exchange rate, floating the birr, in July 2024.
