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[Feb 2017] United Bank S.C. 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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United Insurance Profits Down to 60.29m Br

A small deterioration in market share for United Insurance has come with a marked reduction in its Earnings per Share (EPS), its latest financial statement released October 22 revealed, but it could be part of a sound strategy, says an expert.

The descent has seen it go from EPS of 677 Br in 2012/13 to 547.66 Br in 2013/14 to 384.4 Br in the fiscal year which ended on July 7, 2015. Chairman of the Board, Zafu Eyesuswork, told the 21st General Assembly at Hilton Addis Hotel that United’s market share had gone down from 5.9pc in

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United Bank Signs 1.5bn Br Agreement to Build New Headquarters

United Bank S.C. has signed a headquarters construction agreement with China Jiangsu International Economic-Technical Cooperation Corp (CJIETCC) for around 1.5 billion Br on May 14, 2015 at Hilton Addis Hotel.

The construction work, which will begin before the end of this month, is expected to be completed in a period of three and half years. The 30-storey headquarters will be 119m high and will have four basements. It will also include an employee lounge, conference rooms, and a parking lot that can serve up to 200 cars at

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