DBE | The Reporter Ethiopia English

| 1 February 2020

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).

| 29 June 2019

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.

| 29 December 2018

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.

| 29 September 2018

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.

| 4 July 2018

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.

| 9 June 2018

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.

| 6 June 2018

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.

| 4 June 2018

DBE extends rain fed farm loans maturity dates

The Development Bank of Ethiopia (DBE) extended maturity dates for loans that are forwarded to rain fed commercial agriculture.

| 29 May 2018

Private sector reproaches finance minister for preaching free market

Speaking on Ethiopian private sector development workshop, organized by the African Development Bank (AfDB) and FairFax Africa, Abraham Tekeste (PhD), Minister of Finance and Economic Cooperation (MoFEC), has felt the wrath of the private sector as they voice their staunch opposition to a statement made by the minister regarding the need to believe in “fair competition” and the “free market”.

| 19 May 2018

DBE president submits resignation

Almost two years after joining the Development Bank of Ethiopia (DBE), Getahun Nana, former vice-governor of the National Bank of Ethiopia (NBE), has tendered his resignation to the Office of the Prime Minister, The Reporter has learnt.