Banks in Ethiopia Latest News

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Goh Betoch Bank Grosses 6.3mln Profit Despite Working for a Few Months

Goh Betoch Bank managed to earn 6.3 million birr profit in it’s first year of operation despite working only for a few months. The bank that has four branches including the one in Dire Dawa began providing loans in the fourth quarter of the financial year and disbursed over 300 million birr in this short period, while the deposit mobilization was about 260 million birr.

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Most Profitable Ethiopian Banks for 2022/2021 F.Y (Estimates and actual figures)

A number of banks in Ethiopia have reported their gross profit before taxes and other deductibles for the 2022 / 2021 G.C (2014 E.C) budget year which ended on June 30, 2022 G.C (ሰኔ 2014). We compiled this report and also estimated the profit of the remaining banks by carefully analyzing previous year’s performance and current year’s quarterly or half-year reports.

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Shabelle Bank to open its doors as country’s third IFB

The third interest free banking (IFB) provider, Shabelle Bank, is to commence operation with dual head quarter concept.
The bank which was formed with the merger of one of the strongest micro finance institutions, Somali Micro Finance Institution (SMFI) and the under formation Shabelle Bank, has officially received its commercial banking license to boost its operation under full-scale financial scheme.

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Private Banks Continue their profitability for Half of 2022/2021 fiscal year

Private banks in Ethiopia are continuing their profitable trend into the 2022/2021 financial year. According to their half year financial report, most banks were able to double their profitability compared to the 6 months in 2021/2020 financial year.

Awash Bank has managed to earn a gross profit of 4.6 billion birr while Abyssinia Bank grossed 3.3 billion birr for the first 6 months of 2022/2021 half year.

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Products and Services in Ethiopia

Date: Aug 09, 2022
Currency (Code) Buying Rate Selling Rate
US DollarUS Dollar(USD)52.239853.2846
EuroEuro(EUR)53.268954.3343
Pound SterlingPound Sterling(GBP)60.375761.5832
UAE DirhamUAE Dirham(AED)12.870813.1282
Saudi RiyalSaudi Riyal(SAR)12.578712.8303
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