Hijira Bank Gets Closer to Joining Industry
Hijra Bank S.C., a new full-fledged, interest-free bank (IFP), has reached the final stage of under-formation status with an initial paid-up capital close to 700 million Br.
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Ethiopian Banks Latest News
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Nib International Bank Profits 1.4 bln birr before tax for 2020 / 2019
Nib International Bank has managed to earn 1.4 billion birr before tax for the 2020 / 2019 fiscal year, showing an increase of 37% compared to the previous year. The bank also managed to increase it’s total deposit to 33.2 billion birr showing an increase of 21.5%.
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Cooperative Bank of Oromia (CBO) Earns 1.5 bln birr gross profit for 2020 / 2019 f.y
Cooperative Bank of Oromia (CBO) has registered it’s highest profit to date, 1.5 billion birr before tax. The bank’s total revenue increased to 5.7 billion birr which is 57% higher than the previous year’s revenue.
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Abyssinia Bank to Construct a New 50 – 60 floor Head Quarter
Abyssinia Bank, which managed to earn more than 1.3 billion birr in gross profit for the 2020 / 2019 year, has issued an international bid to construct it’s new head office which will likely have 50 – 60 floors, on land owned around Mexico square.
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Wegagen Bank earns 1.1 bln birr gross profit for the 2020 / 2019 fy
Wegagen Bank has registered 1.1 billion birr profit for the 2020 / 2019 fiscal year. The bank which saw it’s profit decline by almost 300 million birr for the previous year has also managed to decrease it’s non performing loans from 4.5% to 2.8%.
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Zemen Bank earns 1.05 bln birr gross profit for 2020 / 2019 f.y
Zemen Bank has registered 1.05 billion birr gross profit for the recently ended fiscal year(June 2020), 59% increase from the previous year. This profit is the highest amount ever achieved by the bank in it’s 11 years of service.
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Awash Bank registeres 4.19 bln birr gross profit for 2020 / 2019 fiscal year
Awash bank, the biggest private bank in terms of profit has managed to earn 4.19 billion birr gross profit for 2020 / 2019 fiscal year, keeping it’s number one spot for the last 3 years. The bank managed to disperse loans worth 56.8 billion birr.
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Most Profitable Ethiopian Private Banks for 2020 / 2019 Fiscal Year
The current budget year (July 08, 2019 – July 07, 2020 / ሐምሌ 1፡2011 – ሰኔ 30፡2012), has recently been closed. Most banks in Ethiopia have a very close estimate of their profit before tax and other deductions.
The following is an estimation of Ethiopian banks’ profit before tax and other deductions for the 2020 / 2019 fiscal year.
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Bunna International Bank & Bunna Insurance aquire buildings worth 285 and 130 million Br
Bunna International Bank and Bunna Insurance have invested 285 million Br and 130 million Br, respectively, to acquire two separate buildings as their headquarters.
Bunna Bank bought an eight-storey building with a terrace and basement located near Africa Avenue. The Bank bought the building without a bidding process.
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Jano Bank, a new investment bank under formation starts selling shares
Jano Bank, a new investment bank under formation, has started selling shares after getting a green light from the National Bank of Ethiopia (NBE). Zenabu Belay, co-owner of Belayab Motors and Belayab Cables; Shiferaw Habte, founder of Wub Water; and Alemayhu Kebede (PhD), former president of Debre Tabor University, are among the founders of the Bank.
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