Private Banks in Ethiopia Latest News

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Bunna Bank Registers 1.19bln birr Profit before tax for 2022/2021 F.Y, Capital reaches 5.1bln birr

Bunna Bank has reported that it has earned 1.19 billion birr gross profit for 2022/2021 budget year, crossing the 1 billion birr mark for the first time. The bank’s total deposit reached 27.2 billion birr at the end of June 2022 which showed in increase of 6.7 billion or 32.8%. Total outstanding loans and advances of the bank reached 25.85 billion birr which showed an increase of 41.3% amounting 7.6 billion.

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Hibret Bank and Mastercard Partner to Give Small Businesses A Boost through E-Commerce Payment Solution

Hibret Bank pioneered in launching Hibir e-commerce, a digital payments platform that allows Ethiopian businesses and retailers to accept international card payments for online purchases. Hibir e-commerce is first-of- its kind in the Ethiopian banking industry. This move is expected to help local businesses reach new markets and increase revenue while expanding Ethiopia’s access to the digital economy.

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Dashen Bank Posts 3.8bln Birr Gross Profit for 2022/2021 F.Y

Dashen Bank Posts 3.8bln Birr Gross Profit for 2022/2021 fiscal year. The Bank stated that the profit is 57 percent higher compared to the 2020/2021 fiscal year. The Bank further announced that it was able to collect 16.7 billion Birr additional deposits in the 2021/22 fiscal year.

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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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Products and Services in Ethiopia

Date: Dec 21, 2022
Currency (Code) Buying Rate Selling Rate
US DollarUS Dollar(USD)53.246554.3114
EuroEuro(EUR)56.569157.7005
Pound SterlingPound Sterling(GBP)61.879963.1175
UAE DirhamUAE Dirham(AED)13.118813.3812
Saudi RiyalSaudi Riyal(SAR)12.805813.0619
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