National Bank of Ethiopia (NBE) disclosed aggregate capital of banks in Ethiopia has increase by 19 percent during the 2014/2015 fiscal year.

The annual report of NBE on the Ethiopian economy noted the total capital of Ethiopian banks reached 31.5 billion Birr at end of June 2015.

According to the report, the increase in capital is attributable to the injection of capitals undertaken by a number of banks. Following this the aggregate capital margin of private banks increased to 55.6 percent from 55.4 percent. Nonetheless, Commercial Bank of Ethiopia’s (CBE) share remained 34 percent, the report added.

During the said fiscal year 485 new branches were opened, bringing the total number of branch network to close to 2700. This in return helped bank branch to population ration to decline to 1 to 33,446 from 1 to 39,834.

CBE opened the most branches during the periods, 127 branches. Awash International Bank follows with 55 branches while the other banks all opened less than 50 branches.

According to the report 35.5 percent of all branches are found in the capital city, Addis Ababa.

Source: Walta Information Center