Awash Bank reviewed its Semi-Annual Business Performances for the period which runs from July 1, December 30, 2016.
The Semi-Annual Business performance of the Bank was reviewed by the Bank’s Semi-Annual Management Meeting held on January 28, 2017 at Inter Continental Hotel, here in Addis Ababa.
While presenting the overall report on operational major performances of the Bank for the period under review, Ato Tsehay Shiferaw, Chief Executive Officer (CEO) of the Bank said that the Bank has amazingly ended the period by maintaining its leading position in all operational areas among the private Banks in the country.
According to the report of the chief Executive Officer, the total outstanding deposit of the Bank including margins held on letter of credit grew to Birr 27.3 Billion at December 30, 2016 reflecting the growth of Birr 6 Billion or 29% compared to last year the same period.
Moreover, loans and advances for the period under review was considered as the most exciting operational areas that surpassed its plan target. Hence, the Bank’s outstanding loans and advance has reached Birr 20 Billion showing a growth of 37 % compared to last year the same period and surpassed its target plan by five percent.
The CEO finally summarized his report by listing the following core activities that need management attention in the remaining six months of the financial year of 2016/17.
- The newly established relevant organs are expected to fully start activities that can bring tangible changes on the Bank as per the new Business and Operating Models.
- The Six Strategy Implementation Teams formed at the head office level are expected to prepare their activity plans and commence their activities accordingly.
- Activities previously launched based on the Bank’s Business and Operating Model supported by modern technology is to be finalized and technologically enabled products would be introduced in line with the Bank’s strategy.
- The Bank’s Strategy Implementation Steering Committee is to review challenges that occurred in the past and come up with best solutions and make regular follow-ups to check whether planned activities are performed within the time table.
- The re- established Resource Mobilization Committee is to develop new strategies taking into an account the experiences gained in the past. Hence, every organ should be on alert to implement these strategies.
- Agendas tabled for the meeting included, Progress Report on the implementation of Transforming AIB: Vision2025, Performance Review of AIB During the 1st half of 2016/17, Review of Major Control and Risk related issues, and Report on Resource Mobilization.
- Comprehensive reports were presented on the meeting on major operational and non operational activities by respective directorates and due discussions were also held on the meeting.
The Progress report presented by the Bank’s Resource Mobilization Team highlighted that the Bank’s existing resource Mobilization Strategy and Evaluation Criteria were reviewed in line with the organizational structure of the Bank.
Moreover, the progress report presented jointly by the strategy Implementation and Marketing and communication Directorates of the Bank indicated that based on the recommendations of the project study with regard to activities on Human Resource Management, Risk Management, and Change Management, re-branding, Credit Process, Fund Transfer, Customer Inquiry /Complaints Handling and Account Transaction were rigorously reviewed for immediate implementation.
Present on the meeting were; Chief Executive Officer of the Bank, Chief Officers, Deputy Chief Officers, Directors, Regional Managers, City and outlying branch Managers, Division Managers, Relationship Managers and other concerned staff of the Bank.