Prosper with the Leading Private Bank!

45 | Annual Report 2019/20

Annual Report 2019/20 | 46
Prosper with the Leading Private Bank!

47 | Annual Report 2019/20

Annual Report 2019/20 | 48
 Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial Statements
For the year ended 30 June 2021
Statement of Profit or Loss and Other Comprehensive Income

Annual Report 2020/21 46

Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial Statements
As At 30 June 2021
Statement of Financial Position

47 Annual Report 2020/21

 Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial Statements
For the year ended 30 June 2021
Statement of Changes in Equity

Annual Report 2020/21 48

Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial Statements
For the year ended 30 June 2021
Statement of Cash Flows

49 Annual Report 2020/21

Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial
Awash Statements
International Bank S.C.
Financial
For the Statements
year ended 30 June 2022
For the year ended 30 June
Statement of Profit or Loss 2022 Comprehensive Income
and Other
Statement of Profit or Loss and Other Comprehensive Income
30 June 2022 30 June 2021
Notes ETB'000 ETB'000

Interest income 5 14,159,649 9,915,700

Interest expense 6 (4,376,829) (3,307,476)

Net interest income 9,782,820 6,608,224

Fees and commission income 7 4,961,459 2,619,557

Other operating income 8 1,513,673 1,208,494

Total operating income 16,257,952 10,436,275

Loss Allowances on Financial Assets 9, 10 & 11 (860,434) (516,698)

Net operating income 15,397,518 9,919,577

Share of profit from associate 18 8,613 563

Total income 15,406,131 9,920,140

Personnel expenses 12 (5,677,133) (3,485,353)

Amortisation of intangible assets 21 (34,944) (16,623)
Depreciation and impairment of property and 22 (334,501) (244,016)
equipment
Interest expense on lease liability 20 (36,613) (26,801)
Amortisation of Right of Use Asset 20 (400,961) (289,088)
Other operating expenses 13 (1,468,828) (1,035,149)

Profit before tax 7,453,151 4,823,110

Taxation 14 (2,111,920) (1,427,361)

Profit after tax 5,341,231 3,395,750
Other comprehensive income (OCI) net of income tax
Items that will not be subsequently reclassified into profit or loss:
Re-measurement gain/(loss) on retirement 26
(7,651) (6,336)
benefits obligations
Deferred tax (liability)/asset on remeasurement 14
2,295 1,901
gain or loss
Re-measurement gain/(loss) on retirement
(5,356) (4,435)
benefits obligations (Net)
Fair value through other comprehensive income
financial assets : - Unrealized gain arising from 79,313 34,892
measurement at fair value-Equity Instruments
Deferred tax (liability)/asset on remeasurement
(13,326) (2,654)
gain or loss
60,631 27,803
Total comprehensive income for the period 5,401,862 3,423,553

Basic & diluted earnings per share (ETB) 29 570 470

The accompanying notes are an integral part of these financial statements.

56 Annual Report 2021/22

 Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial Statements
Awash International Bank S.C.
As At Financial
30 JuneStatements
2022
Statement of June
As At 30 Financial
2022 Position
Statement of Financial Position
30 June 2022 30 June 2021
Notes ETB'000 ETB'000
ASSETS

Cash and bank balances 15 32,049,124 17,897,386

Loans and advances to customers (Net) 16 126,894,685 86,033,125
Investment securities:
- Financial assets at fair value through OCI 17 340,030 229,127
- Financial assets at amortized cost 17 13,220,174 17,106,946
Investment in associates 18 52,119 44,068
Other assets 19 4,294,481 2,788,546
Right of Use Leased Assets 20 1,770,816 1,130,468
Intangible assets- Software 21 175,152 59,028
Property and equipment 22 4,549,996 3,395,242
Deferred Tax Assets 14 44,480 -

Total assets 183,391,057 128,683,936

LIABILITIES

Deposits from customers 23 148,028,613 102,280,950

Borrowings 24 107,580 208,803
Other liabilities 25 11,257,683 8,447,111
Current tax liabilities 14 2,268,417 1,409,111
Lease liabilities 20 450,945 287,297
Severance and Retirement benefit obligations 26 326,674 119,963
Deferred tax liability 14 - 101,300

Total liabilities 162,439,912 112,854,534

EQUITY

Share capital 27 10,291,407 8,188,948

Share premium 28 1,389 1,389
Retained earnings 30 5,066,847 3,547,495
Legal reserve 31 5,078,283 3,742,975
Risk regulatory reserve 32 362,703 258,709
Other reserve 33 150,517 89,886

Total equity 20,951,145 15,829,402

Total equity and liabilities 183,391,057 128,683,936

The accompanying notes are an integral part of these financial statements.

The financial statements were approved and authorized for issue by the Board of Directors on 28 October 2022 and were
signed on its behalf by:

Amb. Dibaba Abdeta Dirbaba (Dr.) Tsehay Shiferaw Ensermu

Board Chairman Chief Executive Officer

10

Annual Report 2021/22 57

Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Financial Statements
For the year
Awash ended 30
International June
Bank S.C. 2022
Statement of Changes in Equity
Financial Statements
For the year ended 30 June 2022
Statement of Changes in Equity
Other Other
Reserve Reserve
Share Risk (Fair (Defined
Share premiu Retained Legal regulatory value Benefit
capital m earnings reserve reserve reserve) reserve) Total
Notes ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000

Balance as at 1 July 2020 5,848,271 1,389 2,943,340 2,894,038 209,872 62,902 (3,473) 11,956,339
Prior period Lease Adjustment - - (10,488) - - - - (10,488)
Profit for the period - - 3,395,750 - - - - 3,395,750
Other comprehensive income:
Change in fair value of Fair value
through other comprehensive income - - - - - 34,892 - 34,892
investments (net of tax)
Re-measurement gains on defined
benefit plans (net of tax) - - - - - - (4,435) (4,435)

Total comprehensive income for the period - - 6,328,602 2,894,038 209,872 97,794 (7,908) 15,372,058

Transactions with owners in their

capacity as owners
Contributions of equity net of 691,636 - - - - - - 691,636
transaction costs (Proceeds from issue
of shares)
Dividends Capitalized 1,649,041 - (1,649,041) - - - - -
Dividends paid - - (223,168) - - - - (223,168)
Dividends in Payable - - 101 - - - - 101
Tax on Retained Earnings - - (8,984) - - - - (8,984)
Tax on interest income on foreign - - (536) - - - - (536)
Directors' allowance 31 - - (1,706) - - - - (1,706)
Transfer to legal reserve - - (848,937) 848,937 - - - -
Transfer to Risk regulatory reserve 32 - - (48,837) - 48,837 - - -
2,340,677 - (2,781,108) 848,937 48,837 - - 457,343

As at 30 June 2021 8,188,948 1,389 3,547,493 3,742,975 258,709 97,794 (7,908) 15,829,401

As at 1 July 2021 8,188,948 1,389 3,547,493 3,742,975 258,709 97,794 (7,908) 15,829,401
Profit for the period 30 - - 5,341,231 - - - - 5,341,231
Other comprehensive income:
Change in fair value of Fair value - - - - - 65,987 - 65,987
through other comprehensive income
investments (net of tax)
Re-measurement gains on defined 26 - - - - - - (5,356) (5,356)
benefit plans (net of tax)
Total comprehensive income for the period - - 8,888,724 3,742,975 258,709 163,781 (13,264) 21,231,263

Transactions with owners in their

capacity as owners
Contributions of equity net of 262,300 - - - - - - 262,300
transaction costs (Proceeds from issue
of shares)
Dividends Capitalized 1,840,159 - (1,836,914) - - - - 3,245
Dividends paid - - (486,411) - - - - (486,411)
Dividends in Payable - - (47,728) - - - - (47,728)
Tax on Retained Earnings - - (9,853) - - - - (9,853)
Tax on interst income on foreign - - - - - - - -
deposit allowance
Directors' 25 - - (1,670) - - - - (1,670)
Transfer to legal reserve 31 - - (1,335,308) 1,335,308 - - - -
Transfer to Risk regulatory reserve 32 - - (103,994) - 103,994 - - -
2,102,459 - (3,821,878) 1,335,308 103,994 - - (280,117)

As at 30 June 2022 10,291,407 1,389 5,066,847 5,078,283 362,703 163,781 (13,264) 20,951,145

The accompanying notes are an integral part of these financial statements.

11

58 Annual Report 2021/22

 Nurturing Like the River

AWASH INTERNATIONAL BANK S.C.

Awash International Bank S.C.
Financial Statements
Financial Statements
For the
Foryear
the ended 30 June
year ended 20222022
30 June
Statement of Cash
Statement FlowsFlows
of Cash

30 June 2022 30 June 2021

Notes ETB'000 ETB'000

Cash flows from operating activities

Cash generated from operations 34 6,459,533 7,013,207
Directors' allowance paid (1,670) (1,706)
Income tax paid 14 (1,409,111) (1,033,212)
Tax paid on Retained Earnings (9,853) (8,984)
Tax paid on interst income on foreign deposit - (536)
Retirement benefit paid 26 (4,369) (2,089)

Net cash (outflow)/inflow from operating activities 5,034,530 5,966,681

Cash flows from investing activities

Purchase of investment securities in NBE bills and bonds 17 3,887,901 (4,227,220)
Purchase of equity investment securities 17 (31,590) (47,694)
Purchase of Intangible Assets 21 (151,068) (52,628)
Purchase of property, plant and equipment 22 (1,156,381) (579,329)
Prepayments on Right of Use Assets (827,020) (457,348)

Net cash inflow/ (outflow) from investing activities 1,721,842 (5,364,219)

Cash flows from financing activities

Proceeds from issues of shares 262,300 691,636
Receipt ( Payments) of lease liabilities 20 (87,253) (65,955)
Dividends paid (486,411) (223,168)

Net cash (outflow)/inflow from financing activities (311,364) 402,513

Net increase/(decrease) in Cash and bank balances 6,445,008 1,004,976

Cash and cash equivalents at the beginning of the year 15 12,698,221 10,937,607
Foreign exchange (losses)/ gains on cash and cash equivalents 8 1,007,557 755,638

Cash and cash equivalents at the end of the year 15 20,150,786 12,698,221

The accompanying notes are an integral part of these financial statements.

12

Annual Report 2021/22 59

Awash Bank S.C.
Awash Bank S.C.
Financial Statements
Financial
For the yearStatements
ended 30 June 2023
For the year ended
Statement of Profit 30 June
or Loss 2023 Comprehensive Income
and Other
Statement of Profit or Loss and Other Comprehensive Income
30 June 2023 30 June 2022
Notes ETB'000 ETB'000

Interest income 5 21,934,382 14,159,649

Interest expense 6 (6,061,492) (4,376,829)

Net interest income 15,872,890 9,782,820

Fees and commission income 7 5,605,013 4,961,459

Other operating income 8 1,249,048 1,513,673

Total operating income 22,726,951 16,257,952

Loss Allowances on Financial Assets 9, 10 & 11 (242,916) (860,434)

Net operating income 22,484,035 15,397,518

Share of profit from associate 18 12,140 8,613

Total income 22,496,175 15,406,131

Personnel expenses 12 (9,093,592) (5,677,133)

Amortisation of intangible assets 21 (45,247) (34,944)
Depreciation and impairment of property and 22 (447,959) (334,501)
equipment
Interest expense on lease liability 20 (60,332) (36,613)
Amortisation of Right of Use Asset 20 (553,086) (400,961)
Other operating expenses 13 (2,545,445) (1,468,828)

Profit before tax 9,750,514 7,453,151

Taxation 14 (2,756,954) (2,111,920)

Profit after tax 6,993,561 5,341,231
Other comprehensive income (OCI) net of income tax
Items that will not be subsequently reclassified into profit or loss:
Re-measurement gain/(loss) on retirement 26
(90,853) (7,651)
benefits obligations
Deferred tax (liability)/asset on remeasurement 14
27,256 2,295
gain or loss
Re-measurement gain/(loss) on retirement
(63,597) (5,356)
benefits obligations (Net)
Fair value through other comprehensive income
financial assets : - Unrealized gain arising from 146,366 79,313
measurement at fair value-Equity Instruments
Deferred tax (liability)/asset on remeasurement
(20,116) (13,326)
gain or loss
62,653 60,631
Total comprehensive income for the period 7,056,214 5,401,862

Basic & diluted earnings per share (ETB) 29 577 570

The accompanying notes are an integral part of these financial statements.

10

ANNUAL REPORT // 2022/23

47
 Awash Bank S.C.
Financial Statements
Awash Bank S.C.
AwashAsBank S.C.
At 30 June 2023
Financial Statements
Financial Statements
Statement
As At 30 of Financial
June 2023 Position
As At 30 June 2023
Statement of Financial Position
Statement of Financial Position
30 June 2023 30 June 2022
30 June 2023 30 June 2022
Notes ETB'000 ETB'000
ASSETS Notes ETB'000 ETB'000
ASSETS
Cash and bank balances 15 34,876,315 32,049,124
Cash and bankLoans
balances
and advances to customers (Net) 15 16 34,876,315 159,370,386
32,049,124 126,894,685
Loans and advances to customers
Investment (Net)
securities: 16 159,370,386 126,894,685
Investment securities:
- Financial assets at fair value through OCI 17 523,078 340,030
- Financial assets at fair value through OCI 17 523,078 340,030
- Financial assets at amortized cost 17 12,193,764 13,220,174
- Financial Investment
assets at amortized cost
in associates 17 18 12,193,764 13,220,174
69,459 52,119
Investment in Other
associates
assets 18 19 69,459 52,119
6,646,145 4,294,481
Other assets Right of Use Leased Assets 19 20 6,646,145 4,294,481
2,516,594 1,770,816
Right of Use Leased Assets
Intangible assets- Software 20 21 2,516,594 1,770,816
194,605 175,152
Intangible assets- Software
Property and equipment 21 194,605 175,152
22 7,633,768 4,549,996
Property and equipment
Deferred Tax Assets 22 7,633,768 4,549,996
14 - 44,480
Deferred Tax Assets 14 - 44,480

Total assets 224,024,114 183,391,057

Total assets 224,024,114 183,391,057

LIABILITIES
LIABILITIES
Deposits from customers 23 182,470,510 148,028,613
Deposits from Borrowings
customers 23 24 182,470,510 148,028,613
- 107,580
Borrowings Other liabilities 24 25 - 107,580 11,257,683
9,596,580
Other liabilities
Current tax liabilities 25 14 9,596,580 11,257,683
2,444,698 2,268,417
Current tax liabilities
Lease liabilities 14 20 2,444,698 2,268,417
751,453 450,945
Lease liabilities
Severance and Retirement benefit obligations 20 26 751,453 450,945
532,304 326,674
Severance andDeferred
Retirement
tax benefit
liabilityobligations 26 14 532,304 326,674
260,241 -
Deferred tax liability 14 260,241 -

Total liabilities 196,055,786 162,439,912

Total liabilities 196,055,786 162,439,912
EQUITY
EQUITY
Share capital 27 14,649,656 10,291,407
Share capital Share premium 27 14,649,656 10,291,407
28 1,389 1,389
Share premium 28 1,389 1,389
Retained earnings 30 5,852,088 5,066,847
Retained earnings
Legal reserve 30 5,852,088 5,066,847
6,826,673 5,078,283
31
Legal reserve Risk regulatory reserve 31 6,826,673 5,078,283
425,353 362,703
32
Risk regulatoryOther
reserve
reserve 32 425,353 362,703
213,170 150,517
33
Other reserve 33 213,170 150,517

Total equity 27,968,329 20,951,145

Total equity 27,968,329 20,951,145
Total equity and liabilities 224,024,114 183,391,057
Total equity and liabilities 224,024,114 183,391,057
The accompanying notes are an integral part of these financial statements.
The accompanying notes are an integral part of these financial statements.
The financial statements were approved and authorized for issue by the Board of Directors on 26 October 2023 and were
The financial statements
signed on itswere approved
behalf by: and authorized for issue by the Board of Directors on 26 October 2023 and were
signed on its behalf by:

Gure Kumssa Deressa Tsehay Shiferaw Ensermu

Gure Kumssa Deressa
Board Chairman Tsehay Shiferaw Ensermu
Chief Executive Officer
Board Chairman Chief Executive Officer

11
11

ANNUAL REPORT // 2022/23

48
Awash Bank S.C.
Financial Statements
Awash
For the Bank
yearS.C.
ended 30 June 2023
Financial Statements
Statement of Changes in Equity
For the year ended 30 June 2023
Statement of Changes in Equity
Other Other
Reserve Reserve
Share Risk (Fair (Defined
Share premiu Retained Legal regulatory value Benefit
capital m earnings reserve reserve reserve) reserve) Total
Notes ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000

Balance as at 1 July 2021 8,188,948 1,389 3,547,493 3,742,975 258,709 97,794 (7,908) 18,432,692
Profit for the period - - 5,341,231 - - - - 6,705,658
Other comprehensive income:
Change in fair value of Fair value
through other comprehensive income - - - - - 65,987 - 79,313
investments (net of tax)
Re-measurement gains on defined
benefit plans (net of tax) - - - - - - (5,356) (5,356)

Total comprehensive income for the period - - 8,888,724 3,742,975 258,709 163,781 (13,264) 25,212,308

Transactions with owners in their

capacity as owners
Contributions of equity net of 262,300 - - - - - - 262,300
transaction costs (Proceeds from issue
of shares)
Dividends Capitalized 1,840,159 - (1,836,914) - - - - 3,245
Dividends paid - - (486,411) - - - - (486,411)
Dividends in Payable - - (47,728) - - - - (47,728)
Tax on Retained Earnings - - (9,853) - - - - (9,853)
Tax on interest income on foreign - - - - - - - -
Directors' allowance 31 - - (1,670) - - - - (1,670)
Transfer to legal reserve - - (1,335,308) 1,335,308 - - - -
Transfer to Risk regulatory reserve 32 - - (103,994) - 103,994 - - -
2,102,459 - (3,821,878) 1,335,308 103,994 - - (280,117)

As at 30 June 2022 10,291,407 1,389 5,066,846 5,078,283 362,703 163,781 (13,264) 20,951,145

As at 1 July 2022 10,291,407 1,389 5,066,846 5,078,283 362,703 163,781 (13,264) 20,951,145
Profit for the period 30 - - 6,993,561 - - - - 6,993,561
Other comprehensive income:
Change in fair value of Fair value - - - - - 126,250 - 126,250
through other comprehensive income
investments (net of tax)
Re-measurement gains on defined 26 - - - - - - (63,597) (63,597)
benefit plans (net of tax)
Total comprehensive income for the period - - 12,060,407 5,078,283 362,703 290,031 (76,863) 28,007,359

Transactions with owners in their

capacity as owners
Contributions of equity net of 599,085 - - - - - - 599,085
transaction costs (Proceeds from issue
of shares)
Dividends Capitalized 3,759,164 - (3,247,885) - - - - 511,279
Dividends paid - - (603,424) - - - - (603,424)
Dividends in Payable - - (40,337) - - - - (40,337)
Tax on Retained Earnings - - (504,074) - - - - (504,074)
Directors' allowance 25 - - (1,560) - - - - (1,560)
Transfer to legal reserve 31 - - (1,748,390) 1,748,390 - - - -
Transfer to Risk regulatory reserve 32 - - (62,650) - 62,650 - - -
4,358,249 - (6,208,320) 1,748,390 62,650 - - (39,030)

As at 30 June 2023 14,649,656 1,389 5,852,088 6,826,673 425,353 290,031 (76,863) 27,968,329

The accompanying notes are an integral part of these financial statements.

12

ANNUAL REPORT // 2022/23

49
 Awash
Awash Bank
Bank S.C.S.C.
Financial
Financial Statements
Statements
For the
For year
the ended
year 30 June
ended 20232023
30 June
Statement
Statementof Cash Flows
of Cash Flows

30 June 2023 30 June 2022

Notes ETB'000 ETB'000

Cash flows from operating activities

Cash generated from operations 34 6,914,903 6,459,533
Directors' allowance paid (1,560) (1,670)
Income tax paid 14 (2,268,417) (1,409,111)
Tax paid on Retained Earnings (504,074) (9,853)
Retirement benefit paid 26 (8,652) (4,369)

Net cash (outflow)/inflow from operating activities 4,132,200 5,034,530

Cash flows from investing activities

Purchase of investment securities in NBE bills and bonds 17 1,026,381 3,887,901
Purchase of equity investment securities 17 (36,682) (31,590)
Purchase of Intangible Assets 21 (64,700) (151,068)
Purchase of property, plant and equipment 22 (3,547,097) (1,156,381)
Prepayments on Right of Use Assets (986,677) (827,020)

Net cash inflow/ (outflow) from investing activities (3,608,775) 1,721,842

Cash flows from financing activities

Proceeds from issues of shares 599,085 262,300
Receipt ( Payments) of lease liabilities 20 (64,739) (87,253)
Dividends paid (603,424) (486,411)

Net cash (outflow)/inflow from financing activities (69,078) (311,364)

Net increase/(decrease) in Cash and bank balances 454,347 6,445,008

Cash and cash equivalents at the beginning of the year 15 20,150,786 12,698,221
Foreign exchange (losses)/ gains on cash and cash equivalents 8 672,938 1,007,557

Cash and cash equivalents at the end of the year 15 21,278,071 20,150,786

The accompanying notes are an integral part of these financial statements.

13

ANNUAL REPORT // 2022/23

50
Awash Bank S.C.
Awash Bank
Financial S.C.
Statments
Financial
For Statements
the year ended 30 June 2024
For the year
Statement ended
of Profit 30 June
or Loss 2024Comprehensive Income
and Other
Statement of Profit or Loss and Other Comprehensive Income
30 June 2024 30 June 2023
Notes ETB'000 ETB'000

Interest income 2.5&5 27,361,560 21,934,382

Interest expense 2.5&6 (7,430,736) (6,061,492)

Net interest income 19,930,824 15,872,890

Fees and commission income 2.5&7 7,570,247 5,605,013

Other operating income 2.5&8 1,622,681 1,249,048

Total operating income 29,123,752 22,726,951

Impairment reversal/(Losses)on Financial Assets 2.6,9,10&11 102,306 (242,916)

Net operating income 29,226,058 22,484,035

Share of profit from associate 2.3&18 25,082 12,140
Total income 29,251,140 22,496,175

Personnel expenses 2.5&12 (13,393,063) (9,093,592)

Depreciation of investment properties 2.11&21 (432) (432)
Amortisation of intangible assets 2.1&22 (55,677) (45,247)
Depreciation and impairment of property and 2.9&23 (757,215) (447,527)
equipment
Interest expense on lease liability 2.2&20 (77,996) (60,332)
Amortisation of Right of Use Asset 2.2&20 (740,056) (553,086)
Other operating expenses 2.5&13 (3,414,571) (2,545,445)

Profit before tax 10,812,130 9,750,514

Taxation 2.21&14 (2,134,367) (2,756,954)

Profit after tax 8,677,762 6,993,561
Other comprehensive income (OCI) net of income tax
Items that will not be subsequently reclassified into profit or loss:
Re-measurement gain/(loss) on retirement 2.15&27
(200,045) (90,853)
benefits obligations
Deferred tax (liability)/asset on remeasurement 2.21&14
60,014 27,256
gain or loss
Re-measurement gain/(loss) on retirement
(140,032) (63,597)
benefits obligations (Net)
Fair value through other comprehensive income
financial assets : - Unrealized gain arising from 129,595 146,366
measurement at fair value-Equity Instruments
Deferred tax (liability)/asset on remeasurement
5,032 (20,116)
gain or loss
(5,405) 62,653
Total comprehensive income for the period 8,672,358 7,056,214

Basic & diluted earnings per share (ETB) 2.19&30 487 577
The accompanying notes are an integral part of these financial statements.
10

AWASH BANK ANNUAL REPORT

51
Awash Bank S.C.
Awash Bank
Financial S.C.
Statments
Financial
As Statements
At 30 June 2024
Statement of Financial
As At 30 June 2024 Position
Statement of Financial Position
30 June 2024 30 June 2023
Notes ETB'000 ETB'000
ASSETS

Cash and bank balances 2.8&15 54,890,314 34,876,315

Loans and advances to customers (Net) 2.6&16 181,325,195 159,370,386
Investment securities:
- Financial assets at fair value through OCI 2.6&17 806,538 523,078
- Financial assets at amortized cost 2.6&17 19,811,660 12,193,764
Investment in associates 2.3&18 114,702 69,459
Other assets 2.13&19 12,641,820 6,646,145
Right of Use Leased Assets 2.2&20 2,976,046 2,516,594
Investment Properties 2.11&21 19,631 20,063
Intangible assets- Software 2.1&22 280,889 194,605
Property and equipment 2.9&23 9,177,581 7,613,705
Deferred tax asset 2.21&14 364,246 -

Total assets 282,408,622 224,024,114

LIABILITIES

Deposits from customers 2.6&24 225,767,098 182,470,510

Borrowings 2.6&25 107,017 -
Other liabilities 26 14,237,857 9,596,580
Current tax liabilities 2.21&14 2,693,299 2,444,698
Lease liabilities 2.2&20 891,043 751,453
Severance and Retirement benefit obligations 2.15&27 766,965 532,304
Deferred tax Liability 2.21&14 - 260,241

Total liabilities 244,463,279 196,055,786

EQUITY

Share capital 2.17&28 20,313,532 14,649,656

Share premium 2.17&29 1,389 1,389
Retained earnings 31 6,867,788 5,852,089
Legal reserve 2.18&32 8,996,114 6,826,673
Risk regulatory reserve 33 1,558,753 425,353
Other reserve 34 207,766 213,170

Total equity 37,945,343 27,968,329

Total equity and liabilities 282,408,622 224,024,114

The accompanying notes are an integral part of these financial statements.

The financial statements were approved and authorized for issue by the Board of Directors on 25 October 2024 and were
signed on its behalf by:

Gure Kumssa Deressa Tsehay Shiferaw Ensermu

Board Chairman Chief Executive Officer
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52
Awash Bank S.C.
Financial Statments
For the year ended 30 June 2024
Awash Bank S.C.
Statement of Changes in Equity
Financial Statements
For the year ended 30 June 2024
Statement of Changes in Equity
Other Other
Reserve Reserve
Share Risk (Fair (Defined
Share premiu Retained Legal regulatory value Benefit
capital m earnings reserve reserve reserve) reserve) Total
Notes ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000 ETB'000

Balance as at 1 July 2022 10,291,407 1,389 5,066,846 5,078,283 362,703 163,781 (13,264) 20,951,145
Profit for the period - - 6,993,561 - - - - 6,993,561
Other comprehensive income: -
Change in fair value of Fair value - - - - - 126,250 -
through other comprehensive income 126,250
investments (net of tax)
Re-measurement gains on defined - - - - - - (63,597)
benefit plans (net of tax) (63,597)

Total comprehensive income for the period - - 12,060,407 5,078,283 362,703 290,031 (76,862) 28,007,358

Transactions with owners in their

capacity as owners
Contributions of equity net of 599,085 - - - - - - 599,085
transaction costs (Proceeds from issue
of shares)
Dividends Capitalized 3,759,164 - (3,247,885) - - - - 511,279
Dividends paid - - (603,424) - - - - (603,424)
Dividends in Payable - - (40,337) - - - - (40,337)
Tax on Retained Earnings - - (504,074) - - - - (504,074)
Directors' allowance 32 - - (1,560) - - - - (1,560)
Transfer to legal reserve - - (1,748,390) 1,748,390 - - - -
Transfer to Risk regulatory reserve 33 - - (62,650) - 62,650 - - -
4,358,249 - (6,208,320) 1,748,390 62,650 - - (39,031)

As at 30 June 2023 14,649,656 1,389 5,852,087 6,826,673 425,353 290,031 (76,862) 27,968,329

As at 1 July 2023 14,649,656 1,389 5,852,087 6,826,673 425,353 290,031 (76,862) 27,968,329
Profit for the period 31 - - 8,677,762 - - - - 8,677,762
Other comprehensive income:
Change in fair value of Fair value - - - - - 134,627 - 134,627
through other comprehensive income
investments (net of tax)
Re-measurement gains on defined 27 - - - - - - (140,032) (140,032)
benefit plans (net of tax)
Total comprehensive income for the period - - 14,529,849 6,826,673 425,353 424,658 (216,894) 36,640,688

Transactions with owners in their

capacity as owners
Contributions of equity net of 1,245,338 - - - - - - 1,245,338
transaction costs (Proceeds from issue
of shares)
Dividends Capitalized 4,418,538 - (4,410,805) - - - - 7,733
Dividends paid - - (686,636) - - - - (686,636)
Dividends in Payable - - (71,380) - - - - (71,380)
Directors' allowance 26 - - (1,543) - - - - (1,543)
Transfer to legal reserve 32 - - (2,169,441) 2,169,441 - - - -
Transfer to Risk regulatory reserve 33 - - (322,258) - 1,133,400 - - 811,142
5,663,876 - (7,662,063) 2,169,441 1,133,400 - - 1,304,655

As at 30 June 2024 20,313,532 1,389 6,867,788 8,996,114 1,558,753 424,658 (216,894) 37,945,343

The accompanying notes are an integral part of these financial statements.

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AWASH BANK ANNUAL REPORT

53
 AwashBank
Awash Bank S.C.
S.C.
Financial
FinancialStatments
Statements
As
For the year2024
At 30 June ended 30 June 2024
Statement of Cash Flows
Statement of Cash Flows

30 June 2024 30 June 2023

Notes ETB'000 ETB'000

Cash flows from operating activities

Cash generated from operations 35 29,481,796 6,914,903
Directors' allowance paid (1,543) (1,560)
Income tax paid 2.21&14 (2,444,698) (2,268,417)
Tax paid on Retained Earnings - (504,074)
Retirement benefit paid 2.15&27 (33,066) (8,652)

Net cash (outflow)/inflow from operating activities 27,002,489 4,132,200

Cash flows from investing activities

Purchase of investment securities in NBE bills and bonds 2.6&17 (7,618,319) 1,026,381
Purchase of equity investment securities 2.6&17 (153,865) (36,682)
Purchase of Intangible Assets 2.1&22 (141,961) (64,700)
Purchase of property, plant and equipment 2.9&23 (2,321,091) (3,547,097)
Prepayments on Right of Use Assets 2.2&20 (1,199,507) (986,677)

Net cash inflow/ (outflow) from investing activities (11,434,743) (3,608,775)

Cash flows from financing activities

Proceeds from issues of shares 1,245,338 599,085
Receipt ( Payments) of lease liabilities 2.2&20 61,594 (64,739)
Dividends paid (686,636) (603,424)

Net cash (outflow)/inflow from financing activities 620,296 (69,078)

Net increase/(decrease) in Cash and bank balances 16,188,043 454,347

Cash and cash equivalents at the beginning of the year 2.8&15 21,278,071 20,150,786
Foreign exchange (losses)/ gains on cash and cash equivalents 2.5&8 926,882 672,938

Cash and cash equivalents at the end of the year 2.8&15 38,392,995 21,278,071

The accompanying notes are an integral part of these financial statements.

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AWASH BANK ANNUAL REPORT

54