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[Oct 2017] Ethiopian Bank Profit Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Commercial Bank of Ethiopia (CBE) earns 14.6 billion birr profit before tax for 2017 / 2016 fiscal year

The state owned financial giant, Commercial Bank of Ethiopia (CBE), total assets will soon climb to a half trillion birr.
The bank disclosed in its annual performance for the 2016/17 financial that it has registered massive progresses in every aspect of the banking activity.

The biggest bank in the country stated that its assets reached to 485.7 billion birr by the end of the financial year. The capital of CBE has also reached to 40 billion birr. Recently, the government approved a capital increase.

For the year the

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Awash Bank Earns 1.44 Billion Birr Profit for 2017 / 2016 fiscal year

Awash Bank, the first private bank that commenced business after the Ethiopian Peoples’ Democratic Front (EPRDF) came to power, has earned a little over 1.4 billion birr gross profit holding its lead among private banks in Ethiopia.

Last year, the bank took the lead from Dashen Bank by surpassing the one billion birr mark. According to sources, the bank has managed to make a gross profit of 1,444,038 birr before tax in the 2016/2017 fiscal year.

This year’s profit is 439.4 million birr more than last

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Wegagen Bank Profits 797 million birr before tax for 2017 / 2016

This year, the Bank grossed an unaudited profit of 797 million Br, which is 50pc higher than the previous fiscal year, making the company the fourth highest profit earner in the country next to Awash, Dashen and Abyssinia.

The shares of Wegagen Bank S.C. with a par value of 1,000 Birr have commanded a price as high as 4,197.7 Br in their second auction although the earnings per share (EPS) of the Bank have been in long-term decline.

Except for the surge in 2011, The Bank’s dividend per share, the amount that goes to

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Abyssinia Banks Profits 801 million birr before tax for 2017 / 2016

Abyssinia Bank ProfitBank of Abyssinia’s (BoA) profits, deposits and loan disbursements grew 50 percent this fiscal year. BoA has amassed an 801 million birr profit before tax. This was an increase of nearly 300 million birr compared with the 2015/16 fiscal year. A year ago the bank earned over 506 million birr profit before tax. The 2016/17 fiscal year achievement is 58 percent more than the 2015/16

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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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United Bank Profits 339 million birr for 2016 fiscal year

United Bank SC Ethiopia LogoUnited 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

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