Bunna Bank and Wegagen Bank have reported profitable performances in the 2022/23 fiscal year. Bunna Bank announced a profit before tax of Birr 1.35 billion, mobilized over Birr 36.59 billion in deposits, and approved Birr 8.92 billion in loans across various economic sectors.
Bunna Bank S.C., one the private banks in Ethiopia, has endorsed Negusu G/Egziabher, to be its newest CEO. Negusu was among the 3 candidates for the spot.
National Bank of Ethiopia (NBE) has approved Bunna International Bank’s presidential nominee, Tadesse Chinkel, after almost 6 months of back and forth between the central bank and bank’s board of directors (BoD). The approval was effective as of May 11, 2017.
Bunna Bank announced that it was preparing to build a new headquarters in Addis Ababa. This was announced during the bank’s 13th general meeting which was held on Sunday.
Bunna Bank, by employing 100 million birr, improved its servers and card-banking switches and is also prepared to introduce three new services; mobile, internet and agent banking. The Bank’s servers were upgraded by Oracle, an American software company while the switches were installed by M2M, a company which is based in Morocco and which specializes in secured electronic transactions processing solutions. The Mobile, internet, and agent banking services are currently being developed by Virmati Software and Telecommunication, a mobile and telecommunications contractor for the banking & finance industries.
