Addis Ababa, Ethiopia (15 May 2023)
The Development Bank of Ethiopia (DBE) has announced an unadjusted (gross) profit of 2.35 billion birr before tax in the nine months of the 2015 Ethiopian fiscal year, according to the Bank’s 3rd quarter report released by the Public Enterprises Holding & Administration Agency (PEHA). This represents a notable increase of 27% compared to the previous year.
During the same period, the bank collected a total income of 71.11 billion birr, indicating its ability to mobilize funds effectively. According to DBE’s social media posts, the increased loan disbursement to the manufacturing sector and lease customers has been a contributing factor to the bank’s performance.
Additionally, DBE has obtained approximately ETB 177 million from loan rehabilitation initiatives and has reached ETB 6.5 billion in lease financing loan provisions. The bank’s activities have also resulted in the creation of 1,379 job opportunities for citizens, as per the report by Addis Maleda.
Source: DBE, Addis Maleda
DISCLAIMER
The opinions expresses here in the post "Development Bank of Ethiopia (DBE) Reports Gross Profit of 2.35 Bn Birr in Nine Months" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.
