Bank of Abyssinia (BoA) signed a contract with S2M – a Moroccan company –, on Saturday, December 28, 2013, for the installation of 200 Point of Sale (PoS) machines and Electronic Fund Transfer (EFT) switch machines, Fortune reported.
Bank of Abyssinia (BoA) concluded a contract with Computer Business Machines (CBM), a Lebanon-based company for the purchase of 50 Automatic Teller Machines (ATM), on December 7, 2013, Fortune reported.
BoA has also selected S2M, a Moroccan company for the supply of 200 Point of Sale terminals (PoS) and a switch system, however they have yet to sign the contract, according to Fortune.
The central bank of Ethiopia, National Bank of Ethiopia (NBE), approved the candidate for the chairman position of Abyssinia Bank’s board.
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.
The Ministry of Labor and Skills has disclosed that banks are not complying with National Bank regulations by failing to provide loans to enterprises.
