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Commercial Bank of Ethiopia to increase Capital to 40 billion Br

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 help balance the disproportionate grow...

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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...

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PTA to Expand New Brand

In a bid to widen its outreach to more African countries, as well as increase its funding for more sectors the Preferential Trade Area (PTA) Bank, commonly known as the Eastern & Southern African Trade & Development Bank of the Common Market for Eastern and Southern Africa (COMESA) has re-br...

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Eden Water Expands it's Capacity

Eden Business Group has announced the expansion of its water bottling capacity by three-fold at a cost of 80 million Br, raising its capacity to produce 34,000 bottled water per hour in its plant in Welqite, 200km south of Addis Abeba. The Group claims it is now the second biggest producer of bottl...

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Passanger Terminals to be constructed for Semera & Hawassa Airports

The Ethiopian Airport Enterprise (EAE) has signed a 276 million Br contract with two local companies to complete the construction of passenger terminals at Semera and Hawassa Airports. The Enterprise contracted two companies, Afro Tsion Construction and FE Construction Material Rental Production &a...

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Various road projects awarded to local and international construction companies

Six new roads are in the works in the Southern Nation Nationalities & Peoples’ regional state, Somali regional state, Oromia regional state and Benishangul Gumuz regional state. The projects were awarded to three foreign contractors and three local private construction companies by the Eth...

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Ethiopian Airlines Profits 6 bl. ETB (273 ml. USD) for 2016 - 2015 fiscal year

Africa’s largest and fastest growing airline, Ethiopian Airlines, has made a record high net profit of six billion birr (273 million dollars) in the 2015-2016 fiscal year ending June 2016. Ethiopian Airlines Group CEO Tewolde Gebremariam told The Reporter in an exclusive interview t...

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Addis International Bank Profits 85.3 ml Br for 2016 / 2015

Addis International Bank has had an impressive year, registering an annual profit growth of 100pc, since its establishment in 2011 as one of the late entrants into the banking industry. The Bank earned a net profit of 85.3 million Br in the 2015/16 fiscal year, a 46pc increase over its performance i...

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Prev Next

Commercial Bank of Ethiopia to increase Capital to 40 billio…

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 help balance the disproportionate grow...

Read more

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...

Read more

PTA to Expand New Brand

In a bid to widen its outreach to more African countries, as well as increase its funding for more sectors the Preferential Trade Area (PTA) Bank, commonly known as the Eastern & Southern African Trade & Development Bank of the Common Market for Eastern and Southern Africa (COMESA) has re-br...

Read more

Eden Water Expands it's Capacity

Eden Business Group has announced the expansion of its water bottling capacity by three-fold at a cost of 80 million Br, raising its capacity to produce 34,000 bottled water per hour in its plant in Welqite, 200km south of Addis Abeba. The Group claims it is now the second biggest producer of bottl...

Read more

Passanger Terminals to be constructed for Semera & Hawas…

The Ethiopian Airport Enterprise (EAE) has signed a 276 million Br contract with two local companies to complete the construction of passenger terminals at Semera and Hawassa Airports. The Enterprise contracted two companies, Afro Tsion Construction and FE Construction Material Rental Production &a...

Read more

Various road projects awarded to local and international con…

Six new roads are in the works in the Southern Nation Nationalities & Peoples’ regional state, Somali regional state, Oromia regional state and Benishangul Gumuz regional state. The projects were awarded to three foreign contractors and three local private construction companies by the Eth...

Read more

Ethiopian Airlines Profits 6 bl. ETB (273 ml. USD) for 2016 …

Africa’s largest and fastest growing airline, Ethiopian Airlines, has made a record high net profit of six billion birr (273 million dollars) in the 2015-2016 fiscal year ending June 2016. Ethiopian Airlines Group CEO Tewolde Gebremariam told The Reporter in an exclusive interview t...

Read more

Addis International Bank Profits 85.3 ml Br for 2016 / 2015

Addis International Bank has had an impressive year, registering an annual profit growth of 100pc, since its establishment in 2011 as one of the late entrants into the banking industry. The Bank earned a net profit of 85.3 million Br in the 2015/16 fiscal year, a 46pc increase over its performance i...

Read more

National Insurance Company of Ethiopia S.C (NICE) Profits 21…

National Insurance Company of Ethiopia S.C (NICE) has suffered a decline in both profits and its market share despite a growth in premium production. NICE’s board of directors disclosed at the company’s annual meeting that its profits plummeted by 32pc to a little over 21 million Br for...

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Abay Bank Profits 146.5 Million birr after tax for 2016/2015…

Abay has posted a 146.5 million Br net profit under tight liquidity conditions. The Bank has been reporting a positive profit growth over the past five years. The current year’s profit is six times higher than 2011/12 fiscal year. Abay showed the results despite the economic slowdown in the ...

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