Covering Business & Economy Since 2009
During budget year concluded June 30, 20219, Berhan Bank, one of the private banks in Ethiopia, has registered a gross profit of 580.1 million birr (about $18.4 million at the current exchange rate).
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The total capital of bank in Ethiopia has increased by around 8% to 85.7 billion birr (around $3.1 billion at the prevailing exchange rate) at the end of last Ethiopian fiscal year ended June 2018.
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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.
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