Annual Report

Bunna International Bank S.C. (BIB) 9 ANNUAL REPORT For the Year Ended Addis Ababa on June 30, 2018 Ethiopia Use our ATM and POS Machines Located at Convenient Places በተለያዩ ቦታዎች በሚገኙ የክፍያ መፈፀሚያ ማሽኖቻችን (POS) ይገልገሉ፡፡ Mobile & Internet Banking AND COMING SOONMobile Wallet & Agent Banking BUNNA INTERNATIONAL BANK S.C. (BIB) ANNUAL REPORT Bunna International Bank S.C. (BIB) ANNUAL REPORT For the Year Ended on June 30, 2018 Addis Ababa Ethiopia 1 Bunna International Bank S.C. (BIB) 9 ANNUAL REPORT For the Year Ended Addis Ababa on June 30, 2018 Ethiopia CONTENT The Board Chairman’s and the CEO’s Message ........................................... 6 The Board of Directors’ Report............................................................................ 8 Auditor’s Report........................................................................................................ 17 Directors and Professional Advisers................................................................. 19 Report of the Directors.......................................................................................... 20 Statement of Directors’ Responsibilities......................................................... 21 Independent Auditor’s Report........................................................................... 22 Statement of Profit or Loss and other Comprehensive Income........... 25 Statement of Financial Position......................................................................... 26 Statement of Changes in Equity........................................................................ 27 Statement of Cash Flows...................................................................................... 28 Notes to the Financial Statements.................................................................... 29 Designed & Printed by አራት ኪሎ :. +251 111 557 788 ገርጂ :. +251 116 298 777 * 31362 አዲስ አበባ ኢትዮጵያ www.masterprintaddis.com 2 140 121 120 98 98 100 80 80 53 60 53 60 44 33 In Million USD 33 In Million USD 40 40 25 ANNUAL REPORT 19 Performance Highlights over the20 Past NineYears Performance Highlights over the Nine Past Years 0 June June June June June June June June June June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 (F.Y. 2009/10 -‐2017/18) (F.Y. 2009/10-2017/18)-‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph1: Deposit Graph6: Branch Network Graph1: Deposit Graph6: Branch Network 200 171 14000 138 12000 150 138 9947 150 10000 102 7532 102 8000 100 80 5385 6000 60 3501 In Million Birr 50 33 4000 In Number 50 33 2152 In Number 1548 21 903 11 2000 239 491 4 11 0 0 June June June June June June June June June June June June June June June June June June June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 -‐50 -‐50 -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph7: Paid-‐Up Capital Graph2:Graph2: Loans Loans & & Advances Advance Graph7: Graph7: Paid Paid-Up-‐Up Capital Capital 1475 9000 1600 1475 8000 6942 1400 7000 1200 1200 1010 6000 5250 1000 5000 686 3675 800 686 4000 600 508 2446 600 417 In Million Birr 3000 In Million Birr In Million Birr 308 400 213 253 308 2000 1360 169 213 652 950 200 1000 192.2 366.3 200 0 0 June June June June June June June June June June June June June June June June June June June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 -‐10 -‐10 -‐11 -‐11 -‐12 -‐12 -‐13 -‐13 -‐14 -‐14 -‐15 -‐15 -‐16 -‐16 -‐17 -‐17 -‐18 -‐18 Graph3: Gross Profit before Tax Graph8: Staff Strength Graph3:500 Gross Profit before Tax Graph8: Graph8: Staff Number Strength of Permanent Staff 427 400 1800 1800 294 1600 1600 1396 1396 300 250 1400 1400 1167 1167 182 1200 1200 200 938 938 1000 1000 107.6 747 747 800 In Million Birr 80.3 800 100 550 550 In Number 26.8 41.3 In Number 600 600 385 0.05 385 400 208 263 263 0 400 119 208 200 119 June June June June June June June June June 200 0 -‐100 -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 0 June June June June June June June June June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph9: Number of Depositors Graph4:Graph4: Asset Asset Graph9: Graph9: Number Number of of Depositors Depositors 16000 450 14000 13021 450 400 349 12000 400 350 349 9841 350 10000 300 242 300 8000 6830 250 242 250 200 175 6000 4500 175 In Million Birr 200 150 124 4000 3012 2129 150 100 77 124 1365 Number in Thousand 2000 781.4 44 480 100 50 13 25 77 Number in Thousand 44 0 50 0 13 25 June June June June June June June June June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 0 June -‐11 June -‐12 -‐13 June -‐14 June -‐15 June -‐16 June -‐17 June -‐18 June -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph5: Foreign Currency Mobilization Graph5: Foreign Currency Mobilization 140 121 120 98 98 100 80 80 53 60 44 33 In Million USD 40 25 19 20 0 June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph6: Branch Network 200 171 3 150 138 102 100 80 60 50 33 In Number 21 4 11 0 June June June June June June June June June -‐50 -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph7: Paid-‐Up Capital 1600 1475 1400 1200 1010 1000 800 686 508 600 417 In Million Birr In Million 400 253 308 169 213 200 0 June June June June June June June June June -‐10 -‐11 -‐12 -‐13 -‐14 -‐15 -‐16 -‐17 -‐18 Graph8: Staff Strength Board of Directors Eng. Tibebu Eshete Chairman Dr. Neway Zergie Ato Wudu Yedemie W/ro Wudalat Gedamu Eng. Abebe Ayalew Vice Chairman Director Director Director W/ro Hindya Zekaria Ato Adam Melaku Ato Gedefaw Baye Ato Leikun Yeshaneh Director Director Director Director (Bunna Insurance Representative) Asst. Professor Dr. Zelalem Asefa W/ro Sewnet Tizazu Ato Simachew Shiferaw Ato Bekalu Ayalew Director Director Director Board Secretary 4 Executive and Senior Management Ato Mulugeta Alemayehu Chief Executive Officer Ato Demelash Demissie Ato Solomon Jebessa Ato Eskezia Mengestu Ato Wolelaw Birhane Chief Resource Management Officer A/Chief Strategy Officer A/Chief Operation Officer A/Chief Information Technology Officer Ato Gizachew Amare Ato Yohannes Gulelat Ato Zerihun Girma Ato Yohannes Emiru Ato Wubetu Assefa Director, Human Resource Director, Finance Director, Marketing Director, Internal Audit Director, Legal Service Management Directorate Directorate Directorate Directorate Directorate Ato Tegenu Hailu Ato Samuel Demisew Ato Binyam Tilahun Ato Tewodros Baleh Ato Tesfaye Gezahagn Director, Risk Management A/Director, International A/Director, Credit A/Director, Core Application A/Director, Corporate and Compliance Directorate Banking Directorate Directorate Directorate Planning and Change Management Ato Tadese Dabi Ato Emishaw Tefera Ato Getachew Tadesse Ato Mekbib Tola A/Director, Infrastructure A/Director, E-Banking A/Director, Domestic A/Director, Procurment and SecurityDirectorate Directorate Banking Operations and Facility Management Directorate Directorate 5 Bunna International Bank S.C. The Board Chairman’s and the CEO’s Message It is indeed an honor and a privilege to present Bunna Birr 22.1% but above same period a year ago by Birr 304.5 International Bank s.c.’s Annual Report for the year million (14.5%). concluded June 30, 2018 accompanied by the Audited The Bank has disbursed a total of Birr 2.78 Billion during Financial Statement for the year to the Bank’s esteemed the fiscal year and has managed to collect Birr 1.81 Billion. Shareholders. During the concluded fiscal year, our Bank Relative to last year same period, both disbursement and was able to see yet another year on year performance collection performance were substantially higher by boost and was able to achieve 94% of its balance sheet Birr 516.3 million (22.8%) and Birr 320.9 million (21.5%), and income statement targets set for the fiscal year. This respectively. was a tremendous and encouraging result despite the 15% devaluation of the Birr against the USD and subsequent The total foreign currency mobilized by the Bank during tangible impacts and changes it brought in the macro the review period has reached USD 121.3 million. Despite and microeconomic environment including the revision of encouraging performance registered in export receipt- various directives by the supervisory body. During the Fiscal which rose by USD 14.0 million (20.0%) over annual target; Year, soft targets and projects that the Board of Directors the total mobilized during the year was below the target (BoDs) and Management have agreed upon to execute, in by USD 55.0 million. It, however, was above last year same order to assure the sustainable growth of the Bank in the period by USD 23.0 million (23.3%). years ahead, have also progressed in the right direction. The During same period, the Bank was able to generate a total E-Banking Solutions and the Head Office Building Projects income of Birr 1.39 Billion; lower than the target for the are best examples in that regard where pivotal milestones period by Birr 69.3 million or 4.8% but above last year same were reached. The Board and Management share a period by Birr 464.1 million or 50.0%. Accordingly, the gross common vision: To be public-powered, uniquely flavored profit before tax of the Bank stood at Birr 427.2 million at and the most accessible Bank. To help realize this vision, the the end of June 30, 2018, below the target set for the fiscal Board oversees the Bank’s strategic direction, maintaining year by Birr 68.8 million (14.7%) in a year where number of its focus on markets and segments where our Bank can Banks were forced to revise their annual plan due to the apply its core competence and strength to win business aforementioned devaluation of Birr against USD and the and deepen relationships with various stakeholders.

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