[Jan 2017] Enat Bank S.C Latest Ethiopian News - AddisBiz.Com | Ethiopian Business Guide
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...
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...
Enat Bank S.C., one of the 19 banks operating in Ethiopia, is the last bank to launch the centralized online real-time exchange (CORE) banking system. The process took two years and 43.3 million Br, finally became operational on December 2, 2015.
The centralization was a product of four systems: software, server, cheque truncation, and data network. Oracle’s Flexicube, United System Integrators, Alta Computech, and Fintech, provided the different components to the CORE system.
Acquisition of the software, however, did not...