EthSwitch conducted its 11th Annual Shareholders Meeting at Hilton Addis on November 12, 2024. At the meeting, it was announced that the Company achieved excellent overall performance, operations, revenue generation, and project execution.
In the 2023/24 fiscal year, the banking industry made 94.5 million interoperable ATM transactions, amounting to ETB 123.2 billion. Compared to the previous year, this showed an increase of 32 percent. Regarding POS, a total of 2.1 million interoperable POS transactions worth ETB 5.7 billion were made, an increase of 125 percent from last year. In addition, P2P transfer service from one bank account to another with a total of 49.69 million transactions was made which amount to ETB 270.7 billion, showing a growth of 251 percent compared to last year.
In the ended financial year, the financial performance indicates that the company’s net profit before tax was Br 1,055,312,826, which showed a 97 percent increase compared to the previous year’s performance. EthSwitch appreciated participants who have achieved outstanding performance in the inter-bank transaction service during the financial year 2023/24. The main purpose was to recognize those who have contributed to the interoperable transactions in ATM, POS, and P2P services.
