Enat Bank surpassed the first one Billion Birr deposit mark in its first year operation. This was disclosed by Meaza Ashenafi, the Bank’s Board of Directors Chairperson, during the Enat’s annual report on Sunday, December 7, 2014.

She explained the Bank managed to mobilize a total of 1.08 Billion Birr deposit and also disburse 511.8 Million Birr as loan.

She noted Enat’s performance is commendable and unparalleled given the fact that the Bank joined the industry during a challenging period.

She characterized the fiscal year as one with highly intensified competition among other banks, a slow recovery of the global economic situation, shortfalls in planned export earnings and shortage of foreign exchange.

In the aim of addressing women’s banking needs, Meaza explained, the Bank has organized Women Financial Services Department. In addition to this the Core Banking Solution is going to be launched before the end of this fiscal year, she noted.

Source: Ethiopian Herald