Policy Bank Nets 3.2 billion Br Profit

Aug 21 , 2021

The Development Bank of Ethiopia (DBE), the policy financier, netted 3.2 billion Br in profits during the ended-fiscal year. The Bank's latest performance represents a huge increase from the previous year. In 2019/20, the Bank reported a net profit of 1.8 billion Br, a jump following a loss of 1.6 billion Br registered in the preceding financial year. Over the past two years, the Bank has also managed to lower its non-performing loans significantly by collecting unpaid loans and adopting a stringent credit policy. At the end of the last fiscal year, DBE's non-performing loans reached 26pc, showing a decline of eight percentage points.