2merkato

Oromia International Bank (OIB) posted a 71.9 percent rise in annual profit. The bank's profit for the year ended on June 30, 2013 totaled 77.5 million birr, Fortune reported.

The Bank’s return on average equities rose to 17.34 percent from 14.8 percent. The bank also managed to mobilize a total deposit of close to 3.1 billion birr, a 44 percent rise from earlier a year, Fortune reported citing the bank's annual audited report.

The Southern Nations Nationalities State Revenues Authority said it has collected over 668 million birr in revenue in the first quarter of this fiscal year, Walta Information Center reported.

Authority Revenue Development and Planning Support Process Owner, Tamiru Teferi, told Walta Information Center, that the revenue was obtained from direct and indirect taxes as well as other income titles.

Ethiopia earned US$44 million from the export of leather and leather products in the first quarter of the current fiscal year, the Ethiopian Leather Industry Development Institute said. 

Institute Corporate Communication Directorate Director, Berhanu Sirjabo, told Walta Information Center, the amount was earned from the export of finished leather, footwear, leather gloves and other leather products.

The Bank of Abyssinia (BoA), reported a 21.8 percent rise in gross profit for the 2012/13 fiscal year, Capital reported. The bank’s financial report indicated that BoA earned 351.5 million birr during the reporting period, according to Capital.

BoA’s net profit after tax in the past fiscal year stood at 264.7 million birr . The bank profited 215.7 million birr in the 2011/12 fiscal year.