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Ethiopian Airlines Profits 6 bl. ETB (273 ml. USD) for 2016 - 2015 fiscal year

Africa’s largest and fastest growing airline, Ethiopian Airlines, has made a record high net profit of six billion birr (273 million dollars) in the 2015-2016 fiscal year ending June 2016. Ethiopian Airlines Group CEO Tewolde Gebremariam told The Reporter in an exclusive interview t...

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Addis International Bank Profits 85.3 ml Br for 2016 / 2015

Addis International Bank has had an impressive year, registering an annual profit growth of 100pc, since its establishment in 2011 as one of the late entrants into the banking industry. The Bank earned a net profit of 85.3 million Br in the 2015/16 fiscal year, a 46pc increase over its performance i...

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National Insurance Company of Ethiopia S.C (NICE) Profits 21 ml. br for 2016 / 2…

National Insurance Company of Ethiopia S.C (NICE) has suffered a decline in both profits and its market share despite a growth in premium production. NICE’s board of directors disclosed at the company’s annual meeting that its profits plummeted by 32pc to a little over 21 million Br for...

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Abay Bank Profits 146.5 Million birr after tax for 2016/2015 Fiscal Year

Abay has posted a 146.5 million Br net profit under tight liquidity conditions. The Bank has been reporting a positive profit growth over the past five years. The current year’s profit is six times higher than 2011/12 fiscal year. Abay showed the results despite the economic slowdown in the ...

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Dalol Floats 22m Br Shares to Unidentified Investor

Dalol Oil S.C., one of the local private oil companies, is currently negotiating with unidentified investor to sell 22 million Br worth of shares having a par value of 1,000 Br in its bid to recapitalize itself amidst tough operating year. Reporting a full year profit of 400,000 Br for the fiscal ye...

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Tiret Corporate to take over Bahir Dar and Kombolcha Textile Share Companies

The Prime Minister Office has given the order to Ministry of Public Enterprises (MoPE) to transfer Bahir Dar Textile S.C, and Kombolcha Textile S.C, to Tiret Corporate, an endowment company affiliated to the ruling party in the Amhara Regional State. However, the transfer will be made at a price low...

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Oromia International Bank Profits 248 Million birr after tax for 2016/2015 Fisca…

After raising paid up capital from quarter billion to almost a billion Birr, Oromia International Bank (OIB) registered a 249 million Br net profit for the recently ended fiscal year, 12pc higher than the preceding fiscal year. This was disclosed during the Bank’s seventh annual meeting in Mil...

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Awash winery now fully owned by Blue Nile Investments

The protracted privatization process of Awash Winery came to a conclusion after the Ministry of Public Enterprises (MPE) fully transferred shares to – Blue Nile Investment. After several failed auctions, the winery was transferred to Blue Nile Investment in July 2013, at a price of around 460...

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Ethiopian Airlines Profits 6 bl. ETB (273 ml. USD) for 2016 …

Africa’s largest and fastest growing airline, Ethiopian Airlines, has made a record high net profit of six billion birr (273 million dollars) in the 2015-2016 fiscal year ending June 2016. Ethiopian Airlines Group CEO Tewolde Gebremariam told The Reporter in an exclusive interview t...

Read more

Addis International Bank Profits 85.3 ml Br for 2016 / 2015

Addis International Bank has had an impressive year, registering an annual profit growth of 100pc, since its establishment in 2011 as one of the late entrants into the banking industry. The Bank earned a net profit of 85.3 million Br in the 2015/16 fiscal year, a 46pc increase over its performance i...

Read more

National Insurance Company of Ethiopia S.C (NICE) Profits 21…

National Insurance Company of Ethiopia S.C (NICE) has suffered a decline in both profits and its market share despite a growth in premium production. NICE’s board of directors disclosed at the company’s annual meeting that its profits plummeted by 32pc to a little over 21 million Br for...

Read more

Abay Bank Profits 146.5 Million birr after tax for 2016/2015…

Abay has posted a 146.5 million Br net profit under tight liquidity conditions. The Bank has been reporting a positive profit growth over the past five years. The current year’s profit is six times higher than 2011/12 fiscal year. Abay showed the results despite the economic slowdown in the ...

Read more

Dalol Floats 22m Br Shares to Unidentified Investor

Dalol Oil S.C., one of the local private oil companies, is currently negotiating with unidentified investor to sell 22 million Br worth of shares having a par value of 1,000 Br in its bid to recapitalize itself amidst tough operating year. Reporting a full year profit of 400,000 Br for the fiscal ye...

Read more

Tiret Corporate to take over Bahir Dar and Kombolcha Textile…

The Prime Minister Office has given the order to Ministry of Public Enterprises (MoPE) to transfer Bahir Dar Textile S.C, and Kombolcha Textile S.C, to Tiret Corporate, an endowment company affiliated to the ruling party in the Amhara Regional State. However, the transfer will be made at a price low...

Read more

Oromia International Bank Profits 248 Million birr after tax…

After raising paid up capital from quarter billion to almost a billion Birr, Oromia International Bank (OIB) registered a 249 million Br net profit for the recently ended fiscal year, 12pc higher than the preceding fiscal year. This was disclosed during the Bank’s seventh annual meeting in Mil...

Read more

Awash winery now fully owned by Blue Nile Investments

The protracted privatization process of Awash Winery came to a conclusion after the Ministry of Public Enterprises (MPE) fully transferred shares to – Blue Nile Investment. After several failed auctions, the winery was transferred to Blue Nile Investment in July 2013, at a price of around 460...

Read more

Cooperative Bank of Oromia (CBO) profits 39 ml birr only for…

The Cooperative Bank of Oromia (CBO) has reported an eightfold decline in its profit, from 312 million Br to below 40 million Br. This kind of a slide is rare in the private banking industry. “This is a very shocking performance,” said Abdulmenan Mohammed Hamza, accounts manager at Port...

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United Bank Profits 339 million birr for 2016 fiscal year

United Bank S.C. has shown a profit of 339 million Br this year, 20pc higher than last fiscal year. The bank’s growth rate is higher than the average rate of growth of medium banks, a category that includes Nib Bank, Bank of Abyssinia, Wegagen Bank and United itself. The bank’s earning...

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