Development Bank of Ethiopia (DBE) revealed that it had collected Birr 743.1 million in net profit during the first quarter of the current fiscal year achieving 87% of its plan. The bank’s total revenue reached Birr 2.03 billion during the same period.

DBE has shown a better performance than last year in terms of revenue and profit. Its net profit from the first quarter of this fiscal year is 185% higher than what was gained in the first quarter of the last fiscal year.

The bank plans to collect Birr 14 billion from loans in the 2022/2023 fiscal year. It was able to collect Birr 10.9 billion from loans it availed and make a profit of Birr 3.8 billion in the 2021/2022 fiscal year.

Source: The Ethiopian Herald

Additional source: Fana BC