Dashen Bank Board Reinstates its Chair


Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji Shewa, Fincha, and Metahera sugar factories. Since its establishment in 1995 with a paid-up capital of 14.9 million Br from 11 shareholders, Dashen Bank has experienced significant growth. In the fiscal year 2022/23, the Bank achieved a modest increase in net profits, reaching 3.56 billion Br. Dashen Bank's financial performance is underscored by its increased paid-up capital, reaching an impressive 9.3 billion Br. The Bank has attracted deposits exceeding 114 billion Br, reflecting a substantial 25.9pc increase compared to the previous year.


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