National Bank of Ethiopia (NBE) has approved Bunna International Bank’s presidential nominee, Tadesse Chinkel, after almost 6 months of back and forth between the central bank and bank’s board of directors (BoD). The approval was effective as of May 11, 2017.

Tadesse has been serving as the acting president of Bunna following Eshetu Fantay’s, Bunna’s former president, resigned after having a severe car accident which left him incapable of continuing his job.

According to The Reporter, the new appointment is a surprise as the bank’s BoD had appointed Negusu Gebregziabher, former Lion International Bank S.C. president, on February 7, 2017.

The newly appointed president has 4 decades of experience in the banking industry under his belt. He has also worked for Bunna for the past 1 year.

Bunna, one of the private banks in Ethiopia, was established 8 years ago and Tadesse is its 3 president since inception. It now controls around 4 percent of the total income by Ethiopian private banks.

Source: The Reporter