Jan 10 , 2024
Directors of Berhan Bank have brought back Ermias Tefera as the new president, following a nod from regulators at the National Bank of Ethiopia (NBE), two days ago.
A seasoned banker and a father of two, Ermias has held several key positions in the industry, including vice president for operations at Berhan Bank. He was a chief inspector at Awash Bank, and headed the credit division of the state-owned Commercial Bank of Ethiopia (CBE), where he began his career, followed by a stint with Enat Bank.
An economics graduate from Addis Abeba University, Ermias was working as a private consultant before he was brought on board to lead Berhan Bank. His return comes at a critical time, as he acknowledged the challenges ahead in revitalising the Bank's profitability, a source of disappointment to shareholders.
"I'll be looking inwards to fix the problems," he told Fortune.
Ermias assumes the leadership, succeeding Girum Tsegaye, who resigned two months ago due to disagreements with the Board of Directors. Under Girum's presidency, the 15-year-old Berhan Bank faced scrutiny from shareholders who voiced dissatisfaction during the general assembly held in December, over the Bank's modest growth.
Berhan Bank reported a 6.3pc growth in profit and a 15.6pc increase in Earnings per Share (EPS). The weighted average of EPS for 15 private banks, including Berhan Bank, was 38.4pc last year.
News Analysis | Dec 23,2023
News Analysis | Jan 15,2022
Fortune News | Jun 01,2024
Radar | Sep 17,2022
Radar | Sep 22,2024
Covid-19 | Apr 04,2020
Radar | Jan 09,2024
Commentaries | Aug 02,2025
Commentaries | Apr 30,2022
Radar | Oct 06,2024
Photo Gallery | 174526 Views | May 06,2019
Photo Gallery | 164753 Views | Apr 26,2019
Photo Gallery | 154936 Views | Oct 06,2021
My Opinion | 136687 Views | Aug 14,2021
Oct 11 , 2025
Ladislas Farago, a roving Associated Press (AP) correspondent, arrived in Ethiopia in...
Oct 4 , 2025
Eyob Tekalegn (PhD) had been in the Governor's chair for only weeks when, on Septembe...
Sep 27 , 2025
Four years into an experiment with “shock therapy” in education, the national moo...
Sep 20 , 2025
Getachew Reda's return to the national stage was always going to stir attention. Once...
Loading your updates...