Former Dashen Bank S.C., Lulseged Tefen, is appointed as the new CEO of another financial institution in Ethiopia, Nile Insurance Company S.C. It was only in December 2016 that Lulseged was appointed as the Special Advisor to Nile.
Dashen Bank revealed that it was able to record high profit in the 2021/2022 fiscal year. It also stated that it increased its reach, generated new customers, and collected higher deposits in the same year. The bank’s profit before tax was registered to be Birr 3.8 billion during the fiscal year, 57% higher than the profit recorded during the 2020/2021 financial year.
The Development Bank of Ethiopia (DBE) says it prepares 76 billion Birr for priority sectors of investment in five years to come, according to the Capital.
Development Bank of Ethiopia (DBE) has been given the green light from the central bank to establish an enterprise that will undertake assets management. Unlike other permits, for this one the bank had to secure permits from the Ministry of Trade and National Bank of Ethiopia.
One of Ethiopia’s three state owned banks, Ethiopian Development Bank (EDB) extended a total of 3.2 billion Birr loan in the first six months of the current fiscal year to agriculture and manufacturing.
