[Jan 2017] Awash International Bank Profit Latest Ethiopian News - AddisBiz.Com | Ethiopian Business Guide
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...
The last fiscal year had been one of growth and expansion for Ethiopia’s banking sector, though still dominated by the state owned Commercial Bank of Ethiopia (CBE) and although most of the private banks still face the challenge of meeting a paid-up capital minimum of 500 million Br by 2016, according to a decree by the central bank.
In the fiscal year that ended on June 30, 2014, the total number of bank branches in the country reached 2,208; of these 1,205 are private bank branches. Of the new 480 branches opened during the year,...