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DBE suspends agri loans once again

As controversy surrounding loan provision to commercial farms engulfs the nation’s policy lender, the Development Bank of Ethiopia (DBE), the bank has once again decided to suspend any loans and advances for new customers involved in large scale rain-fed commercial farming activities.

Berhan nearly doubles its paid-up capital

Berhan International Bank SC, recorded a marked increase in its profit during the 2016/17 report period, despite a modest decline in its shareholders return owing to the significant improvement the Bank has made in it’s paid up capital position, which was increased by 91 percent to reach 1.39 billion birr.   

CBO to construct 390 million birr temporary HQ

The Cooperative Bank of Oromia (CBO) signed a deal Yesterday for the construction of a temporary headquarter building worth 390 million birr with Wuyi Construction, a Chinese contractor currently undertaking the construction of the would be headquarters of Zemen Bank.

The 18-storey building will serve as a temporary headquarters of the company until the construction of its main headquarters is completed.

Experts to deliberate on finance sector challenges

Experts from the financial services sector are going to deliberate on the challenges and opportunities of the financial sector in the East Africa region at the second East Africa Finance Summit to be held in Addis Ababa from December19-20.

Wegagen defies industry trend in EPS

Wegagen Bank SC has managed to reverse the decreasing trend in shareholders’ return, which has been taking a nose dive over the past three successive reporting years, both in the bank and the industry.

Enat robust amid resignation of its chairwoman

While bidding farewell to its founder and chairman of the board of directors, Meaza Ashenafi, Enat Bank has garnered a net profit of 99.7 million birr, which is up from its previous year’s profit by 20 million birr.

A relatively newcomer on the bloc, Enat Bank had the only and first female board chairperson in the country’s financial sector.

Zemen keeps up with profit increase

Zemen Bank SC reported a net profit of 263.8 million birr last fiscal year registering a 30.5 percent increase from the preceding year keeping up with the rate of increment recorded in the 2015/16 report period, which was 32 percent.

Abyssinia boast sold performance

Bank of Abyssinia SC (BoA) last week reported a remarkable performance for the ended budget year. The bank, which is among the seasoned private financial institutions in the country, amassed a net profit after tax amounting to 534 million birr, a 42.6 percent from the preceding year.