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[Aug 2017] Ethiopian Banks 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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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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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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DBE’s Priority Areas Interest Rate on Hold

Development Bank of Ethiopia DBEThe 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,

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