Financial institutions, especially the banking sector plays a crucial role in models of economic growth. It is an essential component of investments; bank Profit/Loss, banks deposits, banks advances and Interest Earning have considerable effect on economic activity and long-term economic growth. The view that, strong financial sector performance has the key to economic growth was reflected in the development strategies and plans in many countries. In Ethiopia, the development of the financial sector is limited, the contribution to GDP is also very low, and most of the banks attention to is on similar services and commercial activities in the domestic banking areas rather than diversified and international banking services. After selection of the study variables the researchers were described the economic growth function of the nation using the GDP Model to show the contribution of deposits, investments, advances, profitability and interest earning on GDP. This study is important to the practitioners, policy makers, and potential researchers by providing recommendable solutions those mitigate the obstacles in banking sector and providing conducive financial and economic theories and models important for the banking institutions and other concerned parties. The general objective of this study is to evaluate the contribution of the banking sector for the growth of GDP of the nation, more specifically it evaluate or measure the contribution of deposits, investments, advances, profitability, and interest earning on GDP of the nation. The appropriate research design adopted for this study was descriptive. From the total of 19 private and public banks in Ethiopia 5 banks were purposely selected (1 public and 4 private) for this study. Secondary sources of data were used for the analysis. All secondary data were collected from the different official publications of respected banks, annual reports and National bank of Ethiopia for five years (2009-2013 GC). The collected data were analyzed with the use of the SPSS (statistical package for the social sciences) program 20v. The percentage, mean, standard deviation, coefficient of variation, correlation and multiple regressions were utilized. The finding shows that Deposit, Investment, Advances, profitability, and Interest earned by Banks have significant effect on the GDP growth of the Nation. The percentage share to GDP in the sector was increased from time to time with an average of 22%, 11%, 18%, 0.86%, and 1.2% respectively.