profit – New Business Ethiopia

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.

Debub Global Bank profit up 33 percent

December 19, 2020newbusinessethiopianews

Annual Profit of Debub Global Bank of Ethiopia for the budget year concluded June 30, 2020 has increased by 33 percent from the previous year to 376 million Birr before tax.

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 to sell 40 percent of Ethio Telecom

May 22, 2020May 22, 2020

By retaining 60 percent, the Government of Ethiopia is set to sell 40% of Ethio Telecom ending the state’s monopoly of the sector for about a century.

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.

Wegagen Bank of Ethiopia profit drops by $10 million

December 29, 2019January 11, 2020newbusinessethiopianews

The annual gross profit (before tax) of Wegagen Bank of Ethiopia for the budget year ended June 30, 2019 has dropped to around 735.14 million birr (about $23.2 million) compared to 1.05 billion birr the previous budget year.

Berhan Bank of Ethiopia profit up 41 percent

December 19, 2019January 11, 2020newbusinessethiopianews

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).

Berhan Insurance of Ethiopia profit increases 24%

December 14, 2019December 14, 2019newbusinessethiopianews

Gross profit (before tax) of Berhan Insurance, the sister company of Berhan Bank, has increased by 24% to 25.5 million birr ($818,882 at the current exchange rate) during the budget year concluded June 30, 2019 compared to the previous year profit.

Debub Global Bank of Ethiopia profit doubles

December 14, 2019January 11, 2020newbusinessethiopianews

Debub Global Bank of Ethiopia has made gross profit (before tax) of 284 million birr (close to $8 million at the current exchange rate), which is double compared to the previous year (2017/18) gross profit.

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.

Ethiopian Airlines generates $4.2 billion revenue

October 1, 2019October 1, 2019

Ethiopia Airlines Group generates total revenue of 114.6 billion birr (about $4.2 billion) during the Ethiopia fiscal year concluded July 7, 2019.

Ecobank shareholders concludes meeting Lomé, Togo

Ecobank shareholders conclude meeting in Lomé, Togo

April 26, 2018April 26, 2018

Ecobank Transnational Incorporated, parent of Ecobank Group which provides financial services in 36 countries across Africa, concluded its 30th Annual General Meeting in Lomé, Togo.