Banking – New Business Ethiopia

Ethiopia opens door for foreign mortgage banks

February 26, 2021BEHAK

The Government of Ethiopia expressed its willingness to open its banking sector for foreign banks engaged in financing housing (mortgage banks).

Addis Bank profit increases to 274 million Birr

January 26, 2021January 26, 2021newbusinessethiopianews

Addis International Bank, one of the sixteen private banks operating in Ethiopia, has announced a total of 274.2 million Birr profit before tax for the budget year concluded June 30, 2020.

Zemen Bank profit surpasses one billion Birr

January 4, 2021January 4, 2021newbusinessethiopianews

Compared with the preceding year, the annual gross profit of Zemen Bank Share Company, one of the 16 private banks in Ethiopia, has surpassed one billion Birr for the financial year concluded June 30, 2020. The Bank’s gross profit has increased to 1.04 billion Birr growing by 388 million Birr (59 percent).

Wegagen Bank of Ethiopia profit up 46 percent

January 4, 2021January 4, 2021newbusinessethiopianews

During the financial year concluded June 30, 2020, Wegagen Bank, one of the private banks in Ethiopia, has reported annual gross profit of close to 1.07 billion Birr – 46 percent up from the preceding budget year.

Nib Bank profit increases by 381 million Birr

December 24, 2020newbusinessethiopianews

Compared with the previous year’s performance, gross profit of Nib International Bank, one of the 16 private banks in Ethiopia, has increased by 381.2 million Birr for the budget year concluded June 30, 2020.

Dashen Bank profits about 1.8 billion Birr

December 24, 2020newbusinessethiopianews

Dashen Bank Share Company, one of the 16 private banks operating in Ethiopia, has reported annual gross profit of 1.79 billion Birr during the financial year concluded June 30, 2020.

Bunna Bank of Ethiopia profit declines 6 percent

December 21, 2020December 21, 2020newbusinessethiopianews

Compared to the previous year, annual profit of Bunna International Bank of Ethiopia has declined by about 43 million Birr (about 6 percent).

Ethiopia allows local banks to borrow from foreign banks

August 18, 2020August 18, 2020NBE

The National Bank of Ethiopia (NBE), financial sector regulatory body of the country, today passed a directive that allows local banks to borrow from foreign banks.

New bank set to enter Ethiopia market

September 20, 2019September 20, 2019

Goh Betoch Bank, a new financial institution that aims to reintroduce mortgage banking (loan for housing construction) in Ethiopia, offers its share to the public.

Ethiopia opens banking business for foreigners with Ethiopian descent

August 1, 2019August 4, 2019

The House of Peoples’ Representatives (Ethiopian Parliament), in its second urgent session today, has approved draft proclamations of banking.

Ethiopia’s state bank deposit surpasses $17 billion

April 23, 2019April 23, 2019NBE

The total deposit of Commercial Bank of Ethiopia (CBE) exceeds half a trillion birr (over $17 billion), said the recently appointed president of EBE.

Ethiopia PM discusses reform with bankers

January 15, 2019January 15, 2019

Prime Minister Abiy Ahmed of Ethiopia held discussions with heads and representatives of financial institutions to discuss the current reforms within the sector.

Banking in Ethiopia remains promising in the face of adversity

October 6, 2018October 12, 2018

The banking sector in Ethiopia remains promising through it has been changed by both infrastructure and stringent policies and regulations, says veteran banker.

Addis host Ethiopia Banking, Information Communications Technology Summit

April 28, 2018May 1, 2018

Aiming at familiarizing banking professionals with the latest industry trends and technology solutions for emerging challenges in the banking industry, Cyber Security Africa organized Ethiopia Banking and Information Communications Technology Summit in Addis Ababa.

Banking business in Ethiopia booming

January 8, 2010August 30, 2018NBE

Despite the global financial crises, banking business in Ethiopia is booming. Four new banks are currently under-formation while the existing ones continue announcing profit increment every year.