Siket Bank Expands Balance Sheet as Assets Cross 29 Billion Birr

Siket Bank has expanded its balance sheet significantly during the 2025/26 fiscal year, with total assets rising to 29 billion Birr, while reporting more than 1.54 billion Birr in pre-tax profit.

The figures were presented following the bank’s annual management meeting held on August 9, 2026. Siket Bank said total capital reached 10.3 billion Birr during the year, while paid-up capital stood at 7.9 billion Birr. Deposits mobilized during the fiscal year reached 14.7 billion Birr, with total income reported at 4.1 billion Birr.

The latest asset figure represents an increase of about 50 percent from the 19.3 billion Birr reported for the 2024/25 fiscal year. During that earlier year, the bank reported net profit after tax of 1.24 billion Birr, total capital of 9.4 billion Birr and paid-up capital of 7.84 billion Birr.

The increase in total capital to 10.3 billion Birr also marks further growth from the previous year’s 9.4 billion Birr. Paid-up capital, meanwhile, has remained broadly stable at around 7.9 billion Birr, compared with 7.84 billion Birr reported for 2024/25.

Siket Bank’s expansion follows its transition from a microfinance institution into a commercial bank. The institution traces its origins to the Addis Credit and Saving Institution, established in 2000, and later transitioned to commercial banking in 2023. Its 2024/25 results showed that the bank had more than 615,000 customers at the time.

The bank’s latest results also come as it prepares for a new phase of competition in Ethiopia’s banking sector. Chief Executive Officer Damtew Alemayehu said Siket Bank plans to strengthen its competitiveness, expand digital banking services and broaden its customer-service offerings during the 2026/27 fiscal year.

The bank said it also recognized high-performing districts, branches and employees with trophies and certificates during the annual gathering.

While the bank’s latest pre-tax profit figure cannot be directly compared with the 1.24 billion Birr net profit reported for 2024/25 because the two figures are measured before and after tax, respectively, the substantial increase in assets and continued growth in capital indicate a significant expansion of the institution’s balance sheet over the period.