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NBE lifts bill purchase directive

The National Bank of Ethiopia (NBE) has lifted its yearlong mandatory requirement imposed on private banks to purchase bonds from the Development Bank of Ethiopia (DBE).

ZemZem raises 1.2 bln in subscribed capital

Months after it started selling its shares, ZemZem Bank – which is to be the first recognized full-fledged Islamic banking institution – has managed to raise more than 600 million birr in paid-up capital, and has registered a subscribed capital of 1.2 billion birr, The Reporter has learnt.

PM picks vice governors for NBE, draws mixed reviews

Prime Minister Abiy Ahmed (PhD) has approved the appointments of three new vice governors for the National Bank of Ethiopia (NBE), Ethiopia’s central banking institution. However, the top picks for the positions has been met with mixed reaction from finance and economic experts.

Experts insist on restructured NBE

Economists and financial experts have called on the government of Ethiopia to seriously look at the state of the National Bank of Ethiopia (NBE) and consider restructuring it in time, while some going to the extent of reducing the central bank to an institution primarily engaged in undertaking money printing, an expression connoting the power of central banks to create money.

Massive state loans threaten CBE

The more than 400 billion birr loans the Commercial Bank of Ethiopia (CBE) extended to state enterprises and the government in the past years has posed a threat to the biggest bank in Ethiopia.

New bank prepares to join sector

A new bank, Amhara Bank S.C, is on the horizon of formation as the supervising committee readies itself to sell shares to the public, The Reporter has learnt.

Diasporas get thumbs up to venture into banking

A new draft bill, which was designed to amend the existing, restrictive banking and financial services proclamation, has been tabled before the House of People’s Representatives (HPR) offering a new regulation, which has given the green light to foreign nationals of Ethiopian origin to engage in the banking and financial services sector.

Amhara Savingto go into mainstream Banking

Amhara Credit & Saving Institution (ACSI), a giant microfinance institution active in the Amhara Regional State, has requested the National Bank of Ethiopia (NBE)to be given a green light to transform into a full-fledged banking institution, The Reporter has learnt.

Oromia grosses 938 mln profit

Oromia International Bank SC (OIB) bagged a record high profit where its profit before tax, as of June 30, 2018 skyrocketed by 140 percent to 938 million birr.