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[Jan 2017] Ethiopian Bank Profit Latest Ethiopian News - AddisBiz.Com | Ethiopian Business Guide

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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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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Berhan Bank Profits 260.2 million Br after tax on 2016

Berhan International Bank Logo EthiopiaBerhan 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

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CBE Registers 6.7 billion Br profit for First Half 2015 / 2016 Fiscal Year

Commercial Bank of Ethiopia ProfitCommercial 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

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CBO Profits for 2014 / 2015 decline to 312 ml Br after NBE inspection

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

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Enat Bank Profits 53 mln birr for 2015 fiscal year

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

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Berhan International Bank Profits 104.5 million Br for 2014 / 2015 Fiscal Year

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)

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Dashen Bank Profits 729.3 million Br for 2014 / 2015 Fiscal Year

dashen-bankA 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

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United Bank Profits 281 Million Br for 2014 / 2015 Fiscal Year

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

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Wegagen Bank S.C earns 352.4 million Birr profit for 2014/2015 Fiscal Year

Wegagen Bank Stadium Building 23 FloorsWegagen 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

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Abay Bank S.C profits 125 million Br after tax for 2015 fiscal year

Abay Bank SC Logo EthiopiaAbay Bank S.C. has repeated its commendable performance of the past four years under the leadership of its outgoing female president,Mesenbet Shenkute, by what is claimed to be strength of management. However, there was an issue raised during its annual shareholder meeting on November 1, 2015 at Hilton Addis Hotel, over the report’s failure to attribute the

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Lion International Bank 2015 Profit rises 108pc to 200 million Br

Lion International Bank (LIB) S.C. has reversed last year’s poor performance in major areas of its operations, in what board of directors claim is the result of a strategy employed which also resulted in additional ways of accumulating income. This was mainly reflected by doubling its net profit reaching a little over 200 million Br.

Such bonanza in net profit has trickled down to shareholders numbered no less than 7,000, who saw their earnings per share (EPS) jump by 80pc to 10.63 Br, and dividend by 31pc.

Last year, the

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