Private Banks in Ethiopia Latest News

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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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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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Hijira Bank’s Board Receive Approval

The National Bank of Ethiopia (NBE) has given the green light to the founding board of directors of Hijra, the second under establishment, full-fledged interest-free bank in the country. Issued on September 14, 2020, under the signature of Frezer Ayalew, director of banking supervision at the central bank, the letter approved the nomination of the 13 board members drawn from the academia, law, ICT, finance and business arenas.

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Products and Services in Ethiopia

Date: Nov 29, 2021
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)47.847648.8046
EuroEuro(EUR)53.996055.0759
Pound SterlingPound Sterling(GBP)60.938262.1570
UAE DirhamUAE Dirham(AED)11.787712.0235
Saudi RiyalSaudi Riyal(SAR)11.542611.7735
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Companies and Businesses in Ethiopia

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