Sharia-Compliant ZamZam Bank Reports 940.8 Million Birr Net Profits

ZamZam Bank posted a net profit of 940.8 million Birr in the 2024/25 fiscal year, edging toward the billion-Birr mark as the Sharia-compliant lender delivered record performance despite economic headwinds. Shareholders learned of the achievement Sunday during the bank’s General Assembly at Millennium Hall, where executives reported sharp growth across key metrics four years since operations began.

The bank’s total assets surged 77 percent to 16.6 billion Birr by June 30, 2025, up from 9.4 billion Birr a year earlier, while total income reached 2.2 billion Birr. Customer deposits climbed 69 percent to 11.6 billion Birr, accounting for the bulk of 13 billion Birr in total liabilities. Paid-up capital rose 29 percent to 2.65 billion Birr, backed by a shareholder base that now exceeds 18,000 investors. After paying 288 million Birr in taxes, earnings per share jumped to 41.4 percent from 5.9 percent the previous year.

Board Chairman Nassir Dino (PhD) attributed the performance to strong deposit mobilization, sound risk management, and expanding digital and international operations. The bank collected 4.8 billion Birr in new deposits, 36 percent above target,pushing total deposits to 11.6 billion Birr, while its financing and investment portfolio closed at 6.4 billion Birr. Collections outperformed expectations at 4.6 billion Birr, and non-performing financing remained contained at 2.23 percent, underscoring asset quality. International banking operations mobilized USD 647 million, generating 1.2 billion Birr in related income. Digital transactions grew rapidly with over 175,000 mobile USSD users and wider adoption of the Bank’s Ansar offering, a sharia-compliant digital lending platform. Pre-tax profit reached 1.23 billion Birr, demonstrating operational strength and growing customer trust, Nassir noted.

Chief Executive Officer Melika Bedri said the bank sharpened its customer-centric strategy through structural reforms, expanded physical access, and accelerated digital adoption. The branch network grew to 100 locations nationwide, while digital channels captured an increasing share of transactions. Bedri highlighted the rollout of Ansar Digital Financing, a non-collateralized, Sharia-compliant platform powered by AI-driven credit scoring. Despite global headwinds, the bank delivered “near-billion-Birr profitability” while raising capital to 2.65 billion Birr, she said, reflecting rising shareholder confidence and expanding financial inclusion.

In a major infrastructure play, ZamZam Bank finalized plans for a 31-story headquarters tower on government-leased land. The 4,135-square-meter complex will feature podium floors, office space, a conference hall, museum, restaurant, full-service branch, prayer area, and parking for 324 vehicles. Eskender Architects, designer of the Adwa Museum, secured the consultancy agreement on August 14, 2025.