Development Bank of Ethiopia (DBE) appointed two new vice presidents and got the approval from the National Bank of Ethiopia (NBE).

The two vice president positions were at the corporate services and support services. The persons that are now appointed at this position are Teka Yibrah for corporate services and Dereje Awgechew support services, both at vice president positions.

Teka’s predecessor was Genene Ruga who served the bank for 28 years before resigning. On the other hand Dereje replaced the 25 years serving Girma Worke.

Genene explained his reason for resignation as endeavor of different working environment and challenges. Girma on his part said his reason was stress and heavy work load.

According to Fortune the new vice president for corporate services went to Addis Ababa University for his undergraduate studies and studied statistics. He furthered his education at Makerere University in Uganda where he got an MA in economics. He has worked at DBE for 25 years.

On the other hand Dereje went to Haromaya University and got BA degree in agricultural engineering. He has been working at DBE for the past 24 years rising from the position of junior loan officer to loan services director.

Commenting on the appointments the appointments Tadesse Hatiya, vice president of Credit Services at the Bank, said, ““We selected the new vice presidents as they worked in the bank for the past many years and they know the Bank well”.

Development Bank of Ethiopia was established back in 1909 and got the current structured in 2003. As per the current structure the bank has one president and four vice presidents under him who oversee corporate services.

Source: Fortune