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[Aug 2017] Banks in Ethiopia Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Bank shares owned by Ethiopian Diasporas put up for auction

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

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Addis International Bank Profits 85.3 ml Br for 2016 / 2015

Addis International bank s.c profitsAddis 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

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

Abay Bank SC Logo EthiopiaAbay 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

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Enat Banks earns 78.9 million birr net profit for 2016 year

Enat Bank Ethiopia LogoEnat 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

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Abyssinia Bank Profits 375 million Br after tax for 2016 year

Abyssinia Bank ProfitThe 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.

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