Ethiopia: Lion Bank Got a New President
National Bank of Ethiopia (NBE) approved Lion International Bank’s nominee for presidency, Getachew Solomon, a week after the latter submitted its request to the central bank.
Ethiopia: Lion Bank Made 127.2 Million Birr Gross Profit
Lion International Bank S.C. made a gross profit of 127.2 Million Birr from its last fiscal year operation. This was disclosed by the Board of Directors on Saturday, October 25, 2014.
Ethiopia: Lion Bank’s President Resigned from Office
Negusu Gebregziabher, President of Lion International Bank S.C. (LIB), resigned from his post. He is the third bank president to resign from his post in the last two weeks.
Ethiopia: Lion Insurance Surpasses Birr 1 Billion in Premium Revenue
Lion Insurance, a key player in Ethiopia’s insurance sector for 17 years, has achieved a major milestone by surpassing Birr 1 billion in premium revenue for the first time. The company’s total premium revenue reached Birr 1.173 billion, marking a 41 percent increase compared to the previous year.
Ethiopia: Lion International Bank Profit Up 47.6%
Lion International Bank saw a 47.6 percent rise in yearly profit after tax to 111.29 million birr, partly as a result of growth in income earned from service charges and commissions, Fortune reported.
The bank's earning from service charges and commission fees grew from 45.03 million birr to 61.21 million birr, while gains from foreign exchange dealings only increased by 4.9 percent to 27.86 million birr.
