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
[Apr 2017] Ethiopian Banks 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
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
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
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... Read More
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... Read More
The Development Bank of Ethiopia (DBE), biggest lender of the land, by order of the central bank, is to revise its policy of prime lending modes.
“Due to interest drawbacks, it is believed that the Bank has to protect itself from continuous damage of failed projects.” Esayas Behre, president of the Bank told Fortune.
National Bank of Ethiopia, the central bank,... Read More
Almost all commercial private banks found themselves confronted with liquidity crises, after suffering from what is known in the finance world as “a run on a bank” phenomenon occurred last week. It is an unusual situation where depositors demand withdrawals in unusually huge sums, with the result threatening to stall the whole... Read More