As oppose to the push by the international financial institutions, a new study by the renowned professor of Economics at the Addis Ababa University, Alemayehu Geda advices Ethiopian government to not to rush to banking sector liberalization.
NEWS- The 18 commercial banks in Ethiopia have disbursed a total loan of 221 billion birr (about $6.44 billion at the current exchange rate) to their customers during the first ten months of the budget year started July 2019.
The three state enterprises in Ethiopia engaged in providing financial services have made 10.7 billion birr (about $332.1 million at the current exchange rate) profit before tax during the first six months of Ethiopia’s current budget year started July 8, 2019.
Ethiopian government today announces sacking of two big state bank presidents. The Finance Institutions Enterprises Agency of Ethiopia has appointed new presidents for the Commercial Bank of Ethiopia (CBE) and the Development Bank of Ethiopia (DBE).
The total profit of commercial banks in Ethiopia, grew by 24 percent this year as compared to the similar period last year. This is excluding the new private banks, which have not began reporting profits and state-owned National Bank of Ethiopia (NBE).