Sinopia News Top

Ethiopia: Development Bank Collects Birr 743 Million in Net Profit

Development Bank Logo 11

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