The Ethiopian Deposit Insurance Fund (EDIF) today announced strong financial results for the first nine months of the 2024/2025 fiscal year. The Fund successfully collected 5.2 billion Birr in premiums, marking an 8.3% increase compared to the same period last year. This performance significantly strengthens EDIF’s capacity to safeguard depositors and enhance financial stability in Ethiopia.
Key Financial Highlights of First Nine Months of 2024/2025 Fiscal Year:
•Premium Collection: Total premium collection reached 5.2 billion Birr. Of which Sources included:
Private Banks: 2.67 billion Birr (51.3%)
Commercial Bank of Ethiopia: 2.47 billion Birr (47.5%)
Microfinance Institutions: 59.49 million Birr (1.2%)
•Premium Composition: Premiums were primarily sourced from conventional deposits (91%), with the remaining 9% from interest-free deposits.
•Investment Growth: EDIF’s total investment portfolio demonstrated substantial growth, increasing year-over-year to reach 12.11 billion Birr.
Investments in Government Treasury Bills constituted a significant portion, amounting to 11.17 billion Birr. The remaining 944.29 million Birr is held in Mudarabah time deposit accounts.
• Investment Income: The Fund generated 689.45 million Birr from its investment activities.
•Total Income: Total income for the period reached 5.89 billion Birr, comprised of premium contributions (88.29%) and investment income (11.71%).
Desalegn Ambaw (Ph.D.), CEO of the Ethiopian Deposit Insurance Fund, stated, “The Fund’s strong performance in both premium collection and investment management during the first nine months highlights our unwavering commitment to fulfilling our fundamental mandate.
” These achievements significantly enhance depositor confidence and contribute to the overall stability of Ethiopia’s financial system.”
He also commended the member financial institutions for their prompt payment of premiums and their ongoing collaboration.
In addition to its financial accomplishments, EDIF reported that it has been continued to focus on strengthening its institutional framework. Key initiatives during the period included enhancing data management systems, investing in human resource development, and implementing various capacity-building programs to improve operational efficiency and effectiveness.
About the Ethiopian Deposit Insurance Fund (EDIF)
The Ethiopian Deposit Insurance Fund (EDIF) is an independent public institution established by Council of Ministers Regulation No. 482/2021, with the mandate to protect depositors of member financial institutions against the loss of their insured deposits in the event of a member institution’s failure. By providing this safety net, EDIF contributes significantly to maintaining public confidence and contributing to enhance financial stability in Ethiopia.
Contact Address:
Kefyalew Wasihun
Senior Communication Officer
Ethiopian Deposit Insurance Fund (EDIF)
asmarekefyalew496@gmail.com
+ 251 -923-165 -520
www.edif.gov.et
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