After CBE and Awash Bank, the Development Bank of Ethiopia (DBE) became the third most profitable bank in Ethiopia, with Birr 3.3 billion profit after tax. The bank’s capital has increased as well, from Birr 28 billion last year to Birr 31.3 billion this year.
Despite the fact that DBE was unable to recover Birr 900 million in loans made to Tigray projects, the bank was able to obtain this amount of profit after announcing Non-Performing Loans (NPL). NPLs in the lease finance program, in particular, fell from 35% to 13% after considerable changes were made to the plan.
Source: The Reporter
DISCLAIMER
The opinions expresses here in the post "Development Bank of Ethiopia Secured Birr 3.3 billion After Tax" 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.
