Zemen Made 263.8 Million Birr Net Profit

Zemen Bank SC, one of the private banks in Ethiopia, disclosed it has registered a net profit 263.8 million Birr in the last fiscal year. This is a 30.5... Read more »

Ethiopia: Court Rules Against Central Bank Over Diaspora Shares Auction

An Ethiopian native with foreign nationality has won a milestone legal battle against the central bank, whose decision led her to lose shares she inherited from her late father... Read more »

Ethiopia’s central bank devalues currency by 15 percent, hikes rates

ADDIS ABABA, Oct 10 (Reuters) – Ethiopia’s central bank has devalued the Ethiopian birr by 15 percent to boost lagging exports, its deputy governor announced on Tuesday. The bank... Read more »

Commercial Bank of Ethiopia asset rises to $20.8 Billion USD

CBE Ethiopia’s state owned Commercial Bank of Ethiopia (CBE) said its total asset is near $20.8 Billion US Dollar (485.7 billion birr ETB). The nation’s biggest bank said its... Read more »

Breaking News – Ethiopian Wossen Assaye – Virginia Escaped Prisoner Arrested in DC (Video)

Wossen Assaye from Ethiopia who was on the run after escaped from a Virginia hospital Arrested in Washington DC Watch News Videos Below FALLS CHURCH, Va. (MEDIA GENERAL) —... Read more »

Breaking News – Wossen Assaye Virginia Escaped Prisoner Arrested in DC (Video)

Wossen Assaye from Ethiopia who was on the run after escaped from a Virginia hospital Arrested in Washington DC Watch News Videos Below FALLS CHURCH, Va. (MEDIA GENERAL) —... Read more »

Irish firm bids to improve banking services in Ethiopia

Ethiopian banks and microfinance firms are launching mobile money services, helping reach swathes of the population that now have little access to branches or services. The launch of the... Read more »

Ethiopia: Wb Approves Record-High Funding to Ethiopia

The Washington-based World Bank Group this fiscal year has approved and disbursed a historic record high funding to Ethiopia, The Reporter has learnt. According to the information obtained, this... Read more »

Ermyas Amelga Banned from Banking Industry

The National Bank of Ethiopia (NBE) has notified Ermyas Amelga, founding shareholder and former board chairman of Zemen Bank— the only one-branch bank in Ethiopia— that he has banned... Read more »

Ethiopian Banks May Be Less Profitable as Deposit Growth Slows

(Bloomberg) — Ethiopian banks may become less profitable this year as deposit growth slows and because of a law that requires lenders to buy government securities, Access Capital SC... Read more »