Habesha Breweries S.C sold 90 percent of its additional shares auctioned in November to two Dutch companies, Fortune reported.
Bavaria bought 20,000 shares worth 20 million birrr, and Peter Linssen acquired 45,000 shares for 65 million birr, now have a combined 60 percent ownership of Habesha Breweries.
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Addis International Bank (AdIB), reported 27.2 million birr profit after tax, a 272 percent increase compared to a year earlier, Fortune reported.
The AdIB’s interest on loans, advances, central bank bonds, treasury bills and deposits rose by 166 percent, to reach 32.3 million birrr. The bank earned 52.6 million birr from non-interest income, such as gains on foreign exchange dealings, service charges, commissions and others.
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Cabey PLC, the largest importer and distributor of Bridgestone car tires in Ethiopia, inaugurated a tire maintenance and retread center, according to The Reporter.
The retreading facility situated on a 10,000 square meter plot in Akaki Kality Sub city, costed 15 million birr.
Add a comment Add a commentThe Ethiopian Bankers Association (EBA) elected Addisu Habba, as its new president, The Reporter reported.
The General Assembly meeting of the Association held last Thursday elected Addisu, current president of Abyssinia Bank, following the resignation of the Association's and United Bank's previous president Berhanu Getaneh.
Add a comment Add a commentCooperative Bank of Oromia (CBO) reported gross profit of 267 million birr for the 2012/13 fiscal year, Capital reported.
Abera Deressa, board chair of CBO siad, “Global growth dropped to almost three percent in this past year, which indicates that about a half a percentage point has been shoved off the long-term trend since the crisis emerged,” addressing the company's share holders during its general assembly on November 30 in Adama town.
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