Amhara bank to commence operations on June 18, 2022 (ሰኔ 11፤2014)
Amhara bank which has the largest number of shareholders from any bank in Ethiopia will officially start it’s operations on June 18, 2022 (Sene 11:2014)
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Private Banks in Ethiopia Latest News
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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.
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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Annual Report for Financial Performance of Ethiopian Banks for 2021/2020 G.C (2013 E.C) budget year
Most private banks in Ethiopia have reported their annual financial report for the 2021/2020 G.C (2013 E.C) budget year. We have compiled key indicators from their annual financial reports and have also estimated data for 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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Hibret Bank Grosses 1.44bln br for the 2021/2020 fiscal year
Hibret Bank has reported that it has earned a gross profit 1.44 billion birr before tax and after reserves. This profit amount is 27.45% higher compared to the previous year’s amount.
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Most profitable Ethiopian Private Banks for 2021 / 2020 fiscal year
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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Awash Bank Earns 5.58 billion birr gross profit for the 2021 / 2020 fiscal year
Awash Bank has reported that it has earned 5.58 billion birr gross profit for the 2021 / 2020 fiscal year. The bank’s deposit reached 107.7 billion birr which is the highest deposit for a private bank in Ethiopia.
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Cooperative Bank of Oromia Grosses 2.39 billion birr profit for 2021 / 2020 f.y
Cooperative Bank of Oromia has reported 2.39 billion birr gross profit for 2021 / 2020 fiscal year. The bank’s paid up capital has reached 4.6 billion which makes it one of the top capitalized banks in Ethiopia.
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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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Ahadu Bank manages to perform it’s first formation assembly with 760 million birr subscribed capital
Ahadu Bank, one of the 20+ banks under formation in Ethiopia has managed to perform it’s first formation assembly in Ghion Hotel on January 2, 2021. The bank managed to sell 760 million birr worth of shares and managed to collect 540 million birr in paid up capital out of 10,500 shareholders.
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Products and Services in Ethiopia
Date: Jun 27, 2022
Browse More Currencies
| Currency (Code) | Buying Rate | Selling Rate |
|---|---|---|
 US Dollar(USD) | 51.9387 | 52.9775 |
 Euro(EUR) | 54.7486 | 55.8436 |
 Pound Sterling(GBP) | 61.0197 | 62.2401 |
 UAE Dirham(AED) | 12.7956 | 13.0515 |
 Saudi Riyal(SAR) | 12.5258 | 12.7763 |
Companies and Businesses in Ethiopia
