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Amhara Bank Reports Strong Growth as Pre-Tax Profit Surges to 654.8 Million Birr
Addis Ababa — Amhara Bank has posted a pre-tax profit of 654.8 million birr for the 2017 fiscal year, marking one of its strongest...
Standard Bank Becomes First Foreign Institution Re-Licensed Under Ethiopia’s New Banking Regime
Addis Ababa — Ethiopia has taken its first concrete step toward opening its protected financial sector, with the National Bank of Ethiopia re-licensing Standard...
Ethiopia Arrests Sports-Betting Executives in Probe of 100 Billion Birr Revenue Fraud
Ethiopian authorities have arrested the owners and associates of a major sports-betting operator suspected of embezzling more than 100 billion birr (about USD 1.7...
China-Based Bank Commits US$500 Million to Ethiopian Airlines’ Bishoftu Mega-Airport
A major China-based financial institution has pledged US$500 million to support the development of the planned Bishoftu International Airport, Ethiopian Airlines Group (EAG) CEO...
Commercial Bank of Ethiopia Acquires 1,125 Condominium Units to Address Employee Housing Shortage
The Commercial Bank of Ethiopia (CBE) has purchased 1,125 newly built condominium units from the Addis Ababa City Administration, marking one of the largest...
NBE Launches Central Securities Depository and ‘Ts’ega’ Investor Portal
ADDIS ABABA – In a move set to fundamentally reshape Ethiopia’s financial landscape, the National Bank of Ethiopia (NBE) has officially launched the nation's...