The Ministry of Foreign Affairs stated that Commercial Bank of Ethiopia (CBE) was eyeing Djibouti to open branches in the country. The Ministry also revealed that Siinqee Bank and Abyssinia Bank were on the verge of opening their branches in Djibouti.
Fourteen private banks currently in operation in Ethiopia have been able to make more than 3.5 billion birr in gross profit in the just ended financial year in spite of challenges associated with the measures imposed on the lending ability of private banks by NBE.
The largest portion of the profits went to Dashen Bank which earned 896.5 million birr in gross profits for the 2011-12 budget year which is nearly double the 451 million birr net profit it registered in the previous fiscal year.
Awash International Bank grossed 543 million birr coming in second making it one of the only two banks to earn more than half a billion birr in gross profit in the last financial year. It is to be remembered that Awash registered 505.5 million birr in the previous financial year.
The National Bank of Ethiopia ordered all commercial banks to freeze accounts of borrowers who have not submitted Tax Identification Numbers as of the 26th of December.
All commercial banks were instructed to freeze the current accounts of borrowers maintained in the bank until they present TIN as requested, by a letter from the National Bank addressed to all presidents of commercial banks.
their customers said Dr. Sintayehu Woldemicheal, Director General of the Public Financial Institutions Supervising Agency.