Ethiopia's most profitable private bank, Awash, announced that its outstanding deposit has surpassed the 100 billion Br mark. Established 27 years ago, Awash is the first private bank to reach this level and the achievement makes it the second-biggest in terms of deposit mobilisation just next to the Commercial Bank of Ethiopia, whose outstanding deposits totaled 698.2 billion Br by the end of March 2021. Awash is the first private bank established after the introduction of a mixed economy almost three decades ago in Ethiopia. In the last fiscal year, the Bank netted 2.6 billion Br in profit. Over the same period, the Bank has managed to mobilise 70.6 billion Br in deposit, a 30 billion Br increase in less than a year. It is also the most capitalised bank among private financial institutions. Its paid-up capital was 5.8 billion Br by the end of the last fiscal year. For the last five consecutive financial years, it has registered the highest profit from among all private banks. It was followed by Dashen Bank, which netted 1.5 billion Br during 2019/20, 52.2pc higher than the preceding fiscal year.
October 16 , 2021
For many, the past rainy season was a critical moment in the life of the nation. One...
October 9 , 2021
Public offices have been having a field day in the past few years. From the Prime Min...
October 2 , 2021
Ethiopia`s Parliament will pick up a Prime Minister on Monday, October 4, 2021. The i...
September 26 , 2021
There are two editions of The Economist on Africa influenced by the narrative on the...
October 16 , 2021 . By HAWI DADHI
Residing in a country with no capital market, an organised marketplace for trading se...
August 28 , 2021 . By HAWI DADHI
The streets of Addis Abeba are as varied as they are many, although too many of them have yet to be named. From the narrow alleyways of the...
August 7 , 2021
There are a few without an opinion on Ethiopia’s federal structure, which is arranged along lingo-cultu...
July 24 , 2021
There was an alarming increase in the price of Teffin August 2017. It suddenly skyrocketed from 2,000 Br...
