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Financial institutions amass 3.8 bln birr profit

Three state owned financial institutions under the supervision of the Public Enterprises Holding and Administration Agency (PEHAA) have bagged a combined 3.8 billion birr profit before tax in the first quarter of the fiscal year, the agency said.

DBE sees capital quadruple

The Council of Ministers boosts the policy bank, the Development Bank of Ethiopia (DBE), through a capital injection of 28.5 billion birr, four times the preexisting capital of 7.5 billion birr. This decision was made at the Council’s extraordinary meeting held on May 7, 2020, The Reporter has learnt.

IMF recommends NBE shun financing gov’t, DBE

The International Monetary Fund (IMF), in its latest round of the Article IV consultations with Ethiopian authorities, has advised the National Bank of Ethiopia (NBE) to halt financing the government and the policy bank, the Development Bank of Ethiopia (DBE).

Ayka Addis to fetch 2 bln birr in foreclosure

The ill-fated Ayka Addis Textile and Investment Group, a textile manufacturer which went bankrupt, is said to be foreclosed next month with close to two billion birr, in an effort to recover loans the manufacturer received from the embattled the Development Bank of Ethiopia (DBE). The company used to owe some 2.3 billion birr, The Reporter has learnt.

DBE to foreclose on Ayka Addis

The Development Bank of Ethiopia (DBE) is to foreclose on the bankrupted Turkish textile company – Ayka Addis Textile & Investment Group – in the coming one month, The Reporter has learnt.

Policy lender struggles with NPL

The Development Bank of Ethiopia (DBE), the mammoth state-owned development banker, has reported a marginal increase in its net profit as its nonperforming loans (NPLs) basket reaches a historical high of 40 percent, The Reporter has learnt.

Haileyesus Bekele becomes DBE president

The former president of the now defunct Construction and Business Bank (CBB) has been assigned to the presidency of the country’s policy bank, the Development Bank of Ethiopia (DBE).

The assignment of Haileyesus came after Getahun Nana, the Bank’s president, was relieved in pension.

CBE to reintroduce project financing

A year after suspending mainstream project financing by Commercial Bank of Ethiopia, the National Bank of Ethiopia (NBE) has finally decided to allow the reintroduction of the loan services in the State-Owned banking giant CBE.

NBE introduces new loan policy, procedure for CBE, DBE

The National Bank of Ethiopia (NBE) has decided for the reintroduction of project financing by both the Development Bank of Ethiopia (DBE) and the Commercial Bank of Ethiopia (CBE), which was solely assigned to DBE a year ago. CBE was assigned to finance recurrent expenditures.