Siinqee Bank Approves Five-Year Capital Expansion Plan

Following its 6th Annual General Meeting, Siinqee Bank S.C. has formally approved a significant five-year capital expansion plan. This strategic initiative will substantially increase the bank’s capital base from its current 15 billion Birr to 75 billion Birr.

The capital increase is intended to substantially enhance the bank’s lending capacity, support large-scale national development projects, and expand financing for micro, small, and start-up enterprises with a focus on job creation. The bank also aims to strengthen its foreign exchange operations, trade finance activities, and digital banking services.

Siinqee Bank President Neway Megersa said the expanded capital base will enable the bank to broaden its service offerings, deepen partnerships with foreign correspondent banks and international financial institutions, and invest further in technology and human capital.

The bank’s latest performance figures point to rapid growth. As of June 2025, total assets reached 120.2 billion Birr, nearly doubling year-on-year, while total income climbed to 15.4 billion Birr, reflecting a 173 percent increase.

Loan disbursements totaled 56.7 billion Birr, with a strong focus on the manufacturing sector and underserved segments, including youth and women-led enterprises.

The capital expansion positions Siinqee Bank to play a larger role in Ethiopia’s evolving financial sector, as banks scale up to meet growing demand for credit, trade finance, and digital financial services.

Source: EBR