Dashen Bank Latest Ethiopian News

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Most profitable Ethiopian Private Banks for 2021 / 2020 fiscal year [Estimation]

A number of private banks in Ethiopia have reported their unaudited gross profits for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We have estimated the profit of the remaining banks by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

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Paid-up capital Requirement for banks in Ethiopia raised from 500mln birr to 5bln birr

The National Bank of Ethiopia (NBE) has directed new entrants to the banking industry to increase their paid-up capital to 5 billion birr 7 seven years.

Currently, 20 banks are under-formation, another four are waiting for an approval from the NBE.

Except for Amhara Bank, which has collected six billion birr paid-up capital prior to its general assembly, almost all new entrants have sold shares worth below one billion Birr

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Ethiopian Banks Half Year Performance Report

Some private banks have stated out that their half year performance has improved compared to last year’s half year performance. Out of the 16 private banks, Awash Bank leads the pack with 2 billion birr gross profit for the 2020 / 2019 half year. Dashen Banks follows with 1.16 billion birr. Other banks have had an improved gross profit compared to last year’s performance.

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Products and Services in Ethiopia

Date: Sep 20, 2021
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)45.898846.8168
EuroEuro(EUR)53.770454.8458
Pound SterlingPound Sterling(GBP)60.086861.2885
UAE DirhamUAE Dirham(AED)11.307611.5338
Saudi RiyalSaudi Riyal(SAR)11.074611.2961
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