Shirshir Addis Business Group and Anbessa International Bank agreed to work together in financial and investment activitis. The two companies also agreed to share knowledge and skills.
Sidama Bank and the Documents Authentication and Registration Services (DARS) have officially partnered up to collaborate across a variety of fields. The agreement was signed at Sidama Bank's Head Office by CEO Tadesse Hatia and DARA Director General Degato Kumbi.
Sidama Bank has officially started providing services as of yesterday. At the launch program, the Deputy Governor of the National Bank, Ato Solomon Desta, emphasized that the bank's success would play an important role in the country's economic development and in providing access to modern banking on a large scale. Sidama Bank is one of the five banks that have transformed from small financial institutions to banks in the past five years.
Sidama Bank recorded a net profit of Birr 71.6 million for the previous fiscal year, surpassing its initial profit target by 58 percent. The announcement was made during the bank's third regular and third emergency general meeting of shareholders, held in Hawassa.
Sidama Bank has announced plans to open 130 branches across Ethiopia in the next financial year. The bank's president, Ato Tadese Hatia, said that the expansion was part of a strategy to increase capital and expand access to financial services.
