The Commercial Bank of Ethiopia (CBE) has become the biggest bank in east and central Africa, with a total asset of more than 1 trillion Birr.
In the first quarter of the current fiscal year, the bank has given out loans worth of 36.8 billion Birr for different investment projects and trade activities, and also collected back 51.1 billion Birr from loans. The bank registered a profit of 6.9 billion Birr.
Spread the NewsThe disruptions caused by the Covid-19 pandemic pushed an estimated 55 million Africans into extreme poverty in 2020 and reversed more than two decades of progress in poverty reduction on the continent. This is according to the Economic Report on Africa 2021(ERA2021) launched Sunday on the margins of the Economic Commission for Africa’s…
Spread the NewsAs part of expanding investments in neighboring countries, NoC Djibouti has signed an agreement with China Construction to significantly renovate and modernize a service station worth $1.3 million on Wednesday. Minister of Energy and Natural Resource, Yonis Ali Guedi, Minister of Interior, Seid Nouh and Ethiopian Ambassador to Djibouti, Berhanu Tsegaye and scores…
Spread the NewsSeife Desta, National Bank of Ethiopia (NBE) former Banking and Foreign Currency Directorate Director urged the government on Friday to implement a research-based foreign currency exchange rate regime, which will be executed by considering the situation on the ground. Currently, Ethiopia is implementing a managed floating foreign currency exchange system. …
Spread the NewsDashen Bank, among the most profitable banks in Ethiopia, has reported an annual profit of 2.4 billion Birr before tax during the financial year concluded on July 2021. Dashen mobilized 21.1 billion Birr in deposits, and its total deposit has reached 74.6 billion Birr, which registered 39.4 percent increase from last year’s performance,…
Spread the NewsEthiopia and Djibouti agreed to expedite the transportation of Ethiopian goods from port. Berhanu Tsegaye, Ambassador of Ethiopia’s to Djibouti has conferred with Chairman of Djibouti Ports and Free zones Mr. Aboubaker Omer Hadi at the Djibouti International Free Trade Zone, to discuss issues of bilateral importance, with a focus on ways to…
Spread the NewsYared Hailemeskel, an Investment Advisor, told Ethiopian Banks to protect themselves from the threats of financial liberalization. The Advisor has presented his survey findings regarding the financial sector liberalization on the fifth edition of the East African Finance Summit on Wednesday. Ethiopian Banks have lower capital; less developed in technological aspects and banking…
