Gadaa Bank's Pre-Tax Profit More Than Doubled to 1.05 Billion Birr

Gadaa Bank reported a pre-tax profit of 1.05 billion birr for the fiscal year, up from 444 million birr the year before — a rise of more than 120%. The figures were presented at the bank's 5th Regular General Assembly of Shareholders.

Total assets climbed over the same period, capping what the bank presented as another year of momentum across its main indicators.

A doubling off a 444-million-birr base is a different thing from a doubling off a large one. Gadaa is a young bank, and the comparison year is small enough that the percentage flatters the absolute move. The number to watch in the full statements is what share of that profit came from lending margin rather than from foreign-exchange gains, which have been unusually kind to Ethiopian banks since the float.

The 27.5 billion birr behind the betting relaunch

Ethiopia is preparing to rebuild its sports betting and digital lottery industry under a technology-driven regulatory system, following an investigation by Fana Broadcasting Corporate that put operators' accumulated unpaid government obligations at an estimated 27.5 billion birr.

The obligations built up during a period of rapid growth in betting transactions. Fana's report cites a draft regulation, which has not been published.

The framing matters: this is not a tax the state chose not to levy, it is an amount the investigation says was owed and not paid. A relaunch designed around collection technology is an admission that the previous regime could not measure what it was owed.

Open

Neither report gives Gadaa Bank's total assets figure, its non-performing loan ratio, or the composition of the profit. The draft betting regulation is not public, and no operator has responded on the record to the 27.5-billion-birr estimate.

Sources: Birr Metrics — Gadaa Bank · Birr Metrics — sports betting relaunch