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Ethiopia’s private banks profit exceeds state giant CBE

September 15, 2020September 15, 2020NBE

The profit of all the 16 private banks in Ethiopia for the first time exceed the profit of the state owned giant Commercial bank of Ethiopia during the budget year concluded June 30, 2020.

Ethiopia – Addis International Bank profit grows 39 percent

January 11, 2020January 11, 2020newbusinessethiopianews

Addis International Bank, one of the private financial institutions in Ethiopia, has made a gross profit (before tax) of 205.2 million birr (about $6.5 million at the current exchange rate) during the year concluded June 30, 2019.

Ethiopia – Zemen Bank profit soars 87 percent

January 8, 2020January 11, 2020newbusinessethiopianews

As compared to the previous year, the annual profit before tax of Zemen bank, one of the financial institutions in Ethiopia, has soured by 87 percent to 635 million birr (about $20 million at the current exchange rate) during the budget year ended June 30, 2019.

Ethiopia – Abay Bank profit grows 63 percent

January 8, 2020January 11, 2020newbusinessethiopianews

During the budget year concluded June 30, 2029, the annual profit before tax of Abay Bank Share Company, one of the private financial institutions in Ethiopia, has grown 63 percent compared to the previous year.

Ethiopia – Lion Bank profit surges 45 percent

January 4, 2020January 4, 2020newbusinessethiopianews

Compared to the preceding budget year performance, annual gross profit (before tax) of Lion International Bank (LIB), one of the local private banks in Ethiopia, for the budget year ended June 30, 2019 surges 45 percent to 695.5 million birr (about $21.9 million at the current exchange rate).

Ethiopia – Oromia International Bank earnings per share drops 29%

January 3, 2020January 11, 2020newbusinessethiopianews

Compared to the proceeding budget year, Earnings per share of Oromia International Bank (OIB), one of the private banks in Ethiopia, has dropped by 29 percent to 374 birr (about $ 11.8 at the currency exchange rate) for par value of 1,000 birr (about $31.5) during the budget year concluded June 30, 2019.

Awash Bank of Ethiopia grows profit by $43.4 million

January 2, 2020January 11, 2020newbusinessethiopianews

Compared to the previous budget year annual gross profit of Awash Bank for the year ended June 30, 2019, has grown up by about 1.381 billion birr (about $43.4 million at the current exchange rate).

Ethiopia _ Cooperative Bank of Oromia profit up by $21 million

January 1, 2020January 1, 2020newbusinessethiopianews

Compared to the previous year the net profit of Cooperative Bank of Oromia (CBO), one of the private banks in Ethiopia, has increased by 29.2 percent reaching 666.7 million birr (about $21 million at the current exchange rate) during the budget year ended June 30, 2019.

Abyssinia Bank makes one billion birr profit

December 9, 2019December 14, 2019newbusinessethiopianews

Bank of Abyssinia, one the private banks in Ethiopia, makes the biggest gross profit in the Bank’s history, 1.02 billion birr (close to $32.8 million at the current exchange rate), for the financial year concluded June 30, 2019.

Bunna Bank of Ethiopia profit up 46 percent

December 8, 2019December 14, 2019

Gross profit of Bunna International Bank of Ethiopia grew to 625 million birr (over $20 million at the current exchange rate) for the year ended June 30, 2019, which is 46.4 percent increase compared to the previous financial year.