EthSwitch, the national digital payment switch connecting banks and financial institutions across Ethiopia, has announced a pre-tax profit of Birr 1.42 billion for the 2024/25 fiscal year, marking a 34 percent increase compared to the previous year.
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Nib International Bank Share Company has reported a pre-tax loss of Birr 2.9 billion for the fiscal year ended 2024/25, marking a significant financial setback largely attributed to foreign exchange revaluation losses.
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The National Bank of Ethiopia (NBE) has directed all commercial banks to compile and submit information on customers who use personal bank accounts for business or illicit purposes.
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The Ministry of Finance has confirmed that negotiations with private creditors over Ethiopia’s USD 1 billion Eurobond, due in 2024, have collapsed without a deal, intensifying the country’s ongoing debt restructuring challenge under its IMF program.
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Ethiopia has secured USD 110 million in financing from the European Investment Bank (EIB) to support the third phase of the Rural Financial Intermediation Program (RUFIP III), aimed at expanding access to finance in rural areas and advancing agricultural transformation.
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