capital – New Business Ethiopia

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).

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.

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).