The Ethiopian Deposit Insurance Fund collected 3.74 billion Br in premiums during the first half of the fiscal year, a 31.25pc increase from the same period last year, meeting its performance target. Established two years ago, the Fund provides protection for depositors in banks and microfinance institutions. Premiums collected from these institutions are invested to generate additional income and strengthen the Fund’s capacity. Total premiums accumulated by the Fund have reached 17.8 billion Br. Of this amount, 16.2 billion Br came from regular deposits, while 1.6 billion Br was collected from interest-free deposits. Private banks contributed 8.97 billion Br, the Commercial Bank of Ethiopia accounted for 8.63 billion Br, and microfinance institutions added 210 million Br. The Fund has generated 2.56 billion Br in investment income so far, including 1.23 billion Br earned over the past six months. Its total investment portfolio now stands at 19.77 billion Br

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