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It is with great delight that I present the performance of the Bank in the financial year ended 2014/15. The period was a year of satisfactory achievement in all spheres of operational performances with substantial effort and explorations towards providing excellent banking service through the application of various banking technologies.

The macroeconomic environment in which Nib International Bank operated is characterized by both opportunities and challenges. The gradual pick up of the world economy and growth of Ethiopian economy for ten consecutive years is among the opportunities observed in domestic banking industry in general and NIB in particular. On the other hand, a significant slowdown in the country’s export performance exhibited due to a fall in international demand affecting the price of primary products as well as internal capacity constraints were among the major challenges faced during the period. At the same time, stiff competition among domestic commercial banks in resource mobilization particularly, deposits and foreign currency was also a draw back on the performance of the Bank. However, withstanding overall challenges and harvesting opportunities, NIB has delivered commendable performances in key operational areas.

In the 2014/15 financial year, the Bank has earned a profit before tax of Birr 440.8 million, higher than last year by Birr 26 million. The Bank’s total asset grew by Birr 2.5 billion or 23.3% and reached Birr 13.2 billion. Total deposit rose by Birr 1.8 billion compared to last year and reached Birr 9.8 billion. This is the highest absolute growth registered during 15 years history of the Bank.

As part of our continued commitment and effort to reinforce the institutional base of our Bank, the Bank’s Management along with Board of Directors has taken several strategic measures to enable the Bank march forward and expand its operational areas. Of these, the effort to purchase and construct its own office buildings took paramount share among other things. Accordingly, the Bank has managed to inaugurate the multipurpose building constructed in Wolkite town and purchased one office space around 22 Mazoria. Similarly, the Bank is in the process of purchasing other office spaces and buildings in different parts of the country.

The other activity accomplished during the period is encouraging progress observed in the Piling, shoring and mass excavation work for the foundation of Headquarter building which is at its final stage. Moreover, a bid proposal is also announced to select contractors for the construction of Head Office and Dukem buildings and selection process is going on.

With regard to banking technology, the Bank has implemented Mobile and Internet Banking services through which it could diversify its product type and means of service delivery to its customers. Moreover, in the reporting year, a strategic partnership has been established with MasterCard which is one of the breakthroughs to provide international payment service and considerable effort has been exerted to start accepting VISA and Union Pay branded cards, which are almost at the verge of starting the service.

In an effort to meet the demand for that part of the community that requires Interest Free Banking products and services, the Bank made all the necessary preparations and will start implementing in early coming financial year.

As Human Resource is a vital element of the Bank’s operation, we have undertaken capacity building of staff and management through training and a lot has been done towards employee motivation and inspiration through various means.

The Government’s commitment in managing the inflation rate to stay at single digit has contributed in empowering the saving capacity of the society. This is one of the major success factors for banking business though price rise has been observed in some commodities during the last quarter of the financial period under consideration. Moreover, the close supervision and follow-up of the NBE gave us strength to build our capacity and sound regulatory relationship.

Finally, I would like to take this opportunity to express my gratitude to the Board of Directors for their tireless support and leadership to realize the strategic objectives of the Bank. I am also happy to express my appreciation to the Management and employees of the Bank for their unreserved effort towards achieving the Bank’s overall objectives and goals. With concerted efforts of all employees of the Bank, shareholders, business partners and stakeholders, I have full confidence that we will attain a remarkable result in the 2015/16 financial year.


                                                                                                                Addis Ababa

Kibru Fondja


ይ    ሠ    ሯ    ል     ከ    ል    ብ  ፣   እ    ን    ደ     ን    ብ !

 The Bank that Strives to Stimulate Growth!