Abay Bank has earned 683 million birr gross profit for the year ended June 30, 2019. During this budget year, the total income of the Bank increased to 1.8 billion birr showing 40 percent growth from the previous year while… Read More
While it has been a few months since the last budget year closed (July 08, 2018 - July 07, 2019 / ሐምሌ 1፡2010 - ሰኔ 30፡2011), not all banks have disclosed their financial statements. The following is Ethiopian banks' profit before… Read More
ZemZem Bank, whose formation was aborted seven years ago following issues with the central bank, has been resurrected and has restarted its formation process. The founders of the Bank, who lobbied for the establishment of a full-fledged interest-free bank in… Read More
Gedaa Bank, still under formation, has started selling shares after getting approval from the National Bank of Ethiopia (NBE). Gedaa offered the shares for a public subscription three weeks ago and has sold 50 million Br worth of shares as… Read More
The 18th insurance firm, Zemen, is in the last stage of joining the insurance industry, only waiting for final approval from the National Bank of Ethiopia. Zemen has finalised the formation process by 926 shareholders, who raised 81.5 million Br… Read More
Abay Bank, one of the youngest banks, has joined the race to build the next large bank headquarters with an investment of 827 million Br, following the lead of a host of other private banks. To be completed in the… Read More