Wegagen Bank reported a pre-tax profit of Birr 4.3 billion for the 2025/26 fiscal year, supported by growth in income, deposits, lending and digital banking activity.
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The Commercial Bank of Ethiopia (CBE) reported Birr 38.71 billion in net profit for the 2025/26 financial year, supported by strong growth in both interest and non-interest income.
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The Addis Ababa Revenue Bureau has announced plans to intensify warehouse and vehicle inspections as part of a crackdown on suspected tax evasion involving car importers and commission based vehicle dealers in the capital.
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Ethiopia has signed a cooperation framework with the International Finance Corporation (IFC) to establish a mortgage refinance company aimed at expanding access to housing finance and addressing liquidity constraints in the banking sector.
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The African Union is set to launch a new continent wide credit rating agency in October as part of efforts to address high borrowing costs faced by African governments and strengthen the continent’s role in reforming the global financial system.
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