The Ethiopian Commodity Exchange announced that 117 million Br in loans were accessed through warehouse receipt financing in the past three months.
Since last year ECX has facilitated warehouse receipt financing with selected banks which allows farmers, traders, and agri-processors to use stored agricultural commodities as collateral to obtain loans. With technical support from the International Finance Corporation (IFC), the system helps reduce post-harvest losses and improves access to fina...
Berhan Bank has reported a noteworthy 103.4pc increase in net profits, reaching 1.18 billion Br. It was accompanied by a 20.8pc return on equity and a 124pc surge in earnings per share (EPS), which climbed to 350 Br.
However, the Bank's foreign exchange earnings declined by 4.9pc, totalling 139.8 million dollars, with remittances contributing 93pc and exports 5.6pc. Executives attributed the drop to a tightening in foreign exchange availability from key sources. They plan to focus on enhancin...
Shareholders of Dashen Bank left their annual general assembly content, as their Bank netted 4.9 billion Br. Despite a two percent decline in earnings per share, now at 433 Br, the profit increased by 37pc from last year.
Board Chairman Dulla Mekonnen noted the Bank's expansion in its ATM and POS terminal network, which contributed to increased forex and revenue generation in the wake of the local economic climate, including high inflation, internal conflicts, and supply chain disruptions. He...
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