Parliament has approved a request from the Commercial Bank of Ethiopia (CBE) to issue long-term bonds in order to raise its capital by 26.5 billion Br to 40 billion Br. The request was tabled before Parliament three weeks ago. It is expected that the bonds will... Read More
[Aug 2017] Banks in Ethiopia Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz
The action to scrub Ethiopian banks of Ethiopian natives with foreign nationality has commenced as private banks begin auctioning off shares that were returned by these nationals, in compliance with a November 2016 directive from the National Bank of Ethiopia (NBE).
This week, Awash Bank officially floated a tender for 21,052 shares, worth about 21 million Br for a public bid, which accounts almost one percent of its paid up capital. The bidding will open on February 16, 2016. Members of the public will be able to bid for the... Read More
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 in the previous year.
The Bank... Read More
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 country. Last year, the country was hit by El... Read More
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 Millennium Hall in... Read More
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 Portobello Group Ltd., a London based... Read More
Bunna International Bank S.C has earned a record seven year profit and earnings per share. This year, its profit after tax soared to 39.5pc to 187 million Br. However, the profit growth is half of what has been in the preceding year.
The earnings per share surged to 19.6pc to 343 Br for the seven-year-old private bank. That is slightly higher... Read More
Enat Bank has shown a 50 pc surge in profit, although the huge increase in profit after tax has been consumed by expansion in paid up capital by 47pc
A 50pc increase in net profits to 78.9 million Br, has slightly helped Enat to boost its earnings per share (EPS) which are currently at the 167.6 Br mark from 164.3 Br last year.
Established in 2013 with 11 Board members, six... Read More
In its 22 years of operations, Awash International Bank Share Company has become the first private bank in Ethiopia to surpass the one billion birr mark to register a little over one billion birr gross profit in the just ended fiscal year also becoming the most profitable private bank in Ethiopia.
Awash is the first among the private banking... Read More
The Bank of Abyssinia has reported a 30pc rise in its net profits to 375 million Br, slightly lower than industry competitor Wegagen Bank. The bank has faced a profit growth slowdown in recent years, making this year’s growth rate a record-high since 2010.
Last year, Wegagen’s profit was 22.4pc higher than of BOA’s. However, in 2016, the gap contracted to two percent.... Read More