Council Collects Close to 169m Br in Three Months

Nov 9 , 2019


[ssba-buttons]

The Office of National Council for the Coordination of Public Participation on the Construction of Grand Ethiopian Renaissance Dam has collected close to 169 million Br from the public in the last three months. ‘‘The construction of the Dam is going well, along with the continued involvement of the public," said Hailu Abraham, public relations director at the Office of National Council. The public has contributed about 13 billion Br and over 6.2 billion Br in bonds have been repaid so far. "The public commitment is steadfast as it ever was," Hailu said. The Office of National Council was able to collect 970 million Br last year and is now working to collect one billion Br this year. Change of leadership in some of the regional offices resulted in low public mobilisation to meet the expected target of collecting 100 million Br every month.


Radar

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...


Radar

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...


Radar

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...