Ethiopia’s state owned Construction and Business Bank S.C. disclosed it intends to raise the deposit amount to 28 billion Birr which will be a 30 percent increment by the end of the second Growth and Transformation Plan (GTP II). In addition to this, it plans to raise loan mobilization to 8.5 billion Birr and bring down non performing loans to 1.3 percent. With regard to number of branches, the bank’s intention is to increase the number to 175 across the entire country.

President of the bank, Haileyesus Bekele, presenting performance of the bank during the five years of the Growth and Transformation Plan (GTP I) and also the strategic plan for GTP II, he said the bank managed to increase its deposit to 5.77 billion Birr by the end of 2014, which is 22 percent annual growth. Comparing the figure during the five years, there is an increment of 215 percent.

The president furthered the loan service grew by 182 percent and extended a total of 3.201 billion Birr to its customers by the end of 2014. This made the annual increase of the service 14 percent.

The bank’s annual foreign currency generation has reached USD 110 million at the end of 2014, Haileyesus explained. In addition to this by the same time, the bank’s annual income reached about 905 million Birr. However, expenses have also soared to 776 million Birr.

In general, the Bank's performance in the last five years has shown increment. In the last five years, its non performing loan amount decreased to 97 million Birr by 2014 from 115 million Birr in 2010.

Source: Ethiopian Herald