[Feb 2017] Ethiopian Bank Profit Latest Ethiopian News - AddisBiz.Com | Ethiopian Business Guide
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.
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...
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...
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...
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 per 1,000 share also bounced to 324 Br, unlike the trend observed in...
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...
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...
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....
Berhan Bank scored a profit of 260.2 million Br after tax in 2016. For the seven-year-old bank, this is an increase of 146pc from last years performance and is the largest rate of increment compared to all banks who have declared their profits this year.
This has helped increase earnings per share (EPS) from 207 Br to 399...
The Commercial Bank of Ethiopia (CBE) has boasted a generally positive assessment of its banking operations in the recently concluded 2015/16 fiscal year.
The bank’s report comes a few months after it merged with the Construction and Business Bank of Ethiopia. The merger gave the state-owned bank even bigger clout in the...
Commercial Bank of Ethiopia (CBE) reported 6.7 billion Br profit before tax for the first half of this fiscal year. This is nearly half of the 12.8 billion Br income it bagged during the same period last fiscal year.
This performance does not include the 4.4 billion Br deposit it mobilized suddenly when it announced in January, that it...
Cooperative Bank of Oromia S.C., has registered a 531.8pc increase in its provision for doubtful debts and other assets to 228.4 million Br under the helmet of its top executives who were suspended by the National Bank of Ethiopia (NBE) in August, 2015.
The sum is considerably higher than last year’s and than that of all banks which have released their financial statements. This is the updated version of the report which initially indicated that the Bank had a 322pc increase to 152.4 million Br but which was later rejected by the...
Enat Bank S.C., one the last entrants to the Ethiopian banking industry, ended the 2014/15 fiscal year with an 84pc increase in its profit after tax to 53.1 million Br in its second year in business.
Its paid-up capital increased from 261.6 million Br the previous year to 383.8 million Br. In the midst of all this it reported an increase in its rate of earnings per share (EPS) from 13.47pc to 16.43pc; one share has par value of 1,000 Br.
Enat also reported total income of 198 million Br, a 110.6pc increase from the previous...
Bunna International Bank S.C. has registered a 68.2pc increase of it profit after tax totaling 134.5 million Br with its earnings per share (EPS) growing from 227.7 Br to 286.6 Br. Its paid up capital has gone up to 508.3 million Br, making its performance in 2014 / 2015 highly commendable.
Berhan International Bank S.C. has managed to increase its profit after tax consistently since 2011, although it is accumulating excess liquidity.
Coming into service in 2009, the Bank had incurred losses in its first two years. Yet the profit increase it registered 2013/14, 71pc, was its largest to date, and this dived to 17pc in the latest reporting year, when it earned 104.5 million Br net.
Last fiscal year Berhan reported a 32pc increase of its paid-up capital to 573.12 million Br, causing its earnings per share (EPS)...
A year of increasing expenses and capital saw Dashen Bank’s profit barely rise and its earnings per share (EPS) plummet from 670 Br to 589 Br in the 2014/15 fiscal year.
The Bank is also organising its growing branches into districts in a new management system intent on decentralization of decision making. Dashen is the first of the private banks to adopt this system.
Dashen, which is among the top...
Oromia International Bank has increased its profit after tax by 44pc to 221.8 million Br, boosting its earnings per share from the previous year’s 310 to 364 Br.
The 10th private bank to be formed in Ethiopia, OIB has been recording profits since it first started operations in 2008. Interest income has grown by 60pc to a little...
United Bank’s profit after tax has almost remained the same with one per cent increase to 281 million Br, while its earnings per share (EPS), slid down from 34.1 Br to 29.8 Br for each share of 100 Br for the 2014/15 fiscal year; EPS has declined by 43.5pc since 2011.
“The Bank attributes this decline to massive expansion of capital, but the management should find a strategy to stop such spiral of decline of shareholders’ returns,” advised Abdulmena Mohammed Hamza, accounts manager at Portobello Group Ltd., a London based holding...
Wegagen Bank announced that it earned a gross profit of Birr 452.5 million in the 2014/15 Fiscal Year ended June 30, 2015.
The Bank announced this achievement in the audited annual report unveiled at the 22nd Ordinary Shareholders’ Meeting held at Hilton Addis Ababa on November 5, 2015.
Bank President/CEO Ato Araya G/Egziabher said on
One major indicator of profitability, earnings per share (EPS), decreases in yet another year at Nib International Bank (NIB). This downward trend, a norm since 2012, continues while the bank is required to comply with the directive to build its capital at the expense of EPS, the latest financial statement revealed.