Nib International Bank registered 4.2 Billion Birr Pre-Tax profit in fiscal year 2025/26. Last year, the bank registered 2.9 billion birr loss after the Ethiopian government liberalized foreign exchange market. Total deposits of the bank have risen to 59 billion Birr, showing 14% increase. Its total assets stand at 75 billion Birr. Nib international bank…
Shabelle Bank earned 231 million birr pre tax profit in the financial year 2025/26, showing more than tenfold increase compared with the last year. According to Shabelle bank S.C. , customer deposits increased 4.7 billion Birr, showing 122% improvement than the last year. Bank’s financing portfolio expanded by 101% to 3.5 billion Birr. Total assets…
Oromia regional finance bureau has announced that all govt payments in the Oromia region of Ethiopia will be made through internet banking. The bureau announced the decision this week. Oromia regional finance bureau has announced that it held consultations about this issue with Commercial Bank of Ethiopia and other stake holders. The bureau stated that…
Ethio Telecom earned $581 Million profit in 2025/26 G.C. (2018 E.C.) fiscal year. The company’s CEO Frehiwot Tamiru has shared details. According to the press release issued by Ethiopian state owned Telecommunication company, its revenue rose to $1.35 billion in 2025/26, a 33.2% increase compared with the last year. The company stated it has registered…
Wegagen Bank Registered 4 Billion Birr Pre Tax profit during the 2025/26 fiscal year. The bank this week shared its performance report. To review the performance, a meeting of the Board of Directors and Management members was held in Jimma town. According to the performance report, Wegagen Bank registered a total income of 16.2 billion…
Ethiopia today categorically reiterated that cryptocurrency and other virtual assets are prohibited and their use in any form is not allowed. National Bank of Ethiopia (NBE) issued a statement in this regard. ” the use, purchase, sale, exchange, transfer, trading, settlement, and facilitation of transactions involving virtual assets are prohibited,” said National Bank of Ethiopia…
Berhan bank has announced profit for 2025/26 fiscal year. The bank recorded rapid growth, profitability, revenue and customer deposits. According to Berhan bank, its pre-tax profit reached 5.06 billion Birr showing 76.9% increase from the previous year. It recorded 12.37 billion Birr in total revenue, a 46.6% increase from the last year. Customer deposits also…
NBE Ethiopia has simplified the process of getting account number for new importers and exporters. The National Bank of Ethiopia (NBE) today issued a statement in this regard. The bank has introduced a new digital service that simplifies the issuance of NBE Account Numbers for newly licensed importers and exporters. Now NBE Account Numbers can…
The National Bank of Ethiopia raised interest rate this week. The bank increased its main interest rate from 15% to 16%. This is the first change in interest rates within the last two years. Ethiopian economy is under stress. Rising fuel prices have made it difficult for the inflation to be brought under control. Iran…