Friday, December 2, 2022
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    Tag: Banking

    Lion bank’s bad loans hit 16 percent

    Lion International Bank registered Non-Performing Loans (NPL) of above 16 percent, three times higher than the threshold set by the Central Bank, as a result of not being able to collect credit from many of its customers in war-ravaged Tigray Region.

    Policy bank to design mandatory bonds for interest-free banks

    The Development Bank of Ethiopia (DBE) began to design bonds for interest free banks, which have joined the financial sector since last year. It is expected to replace the one percent mandatory bond introduced by the National Bank of Ethiopia (NBE) this year.

    Redstar saves BMET Cables from foreclosure

    BMET cables, a Turkish factory which has been listed in the Development Bank of Ethiopia’s (DBE) Non Performing Loans (NPL), shook off its long overdue loans and is currently being transferred to a new owner, The Reporter learnt.

    DBE loses 900 million birr to Tigray conflict

    The Development Bank of Ethiopia (DBE) failed to recover 900 million birr in loans it provided to projects in Tigray as a result of the yearlong conflict in the region. Consequently, the bank has declared them Non-Performing Loans (NPL).

    Banks call for amendment to mandatory bond

    Commercial banks urged Officials of the National Bank of Ethiopia (NBE) to amend the mandatory rule, which demands financial institutions invest one percent of their outstanding credit on a bond issued to support the Development Bank of Ethiopia (DBE).

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