Ethiopia: Banks double their profit over three years


Net income of banks operating in Ethiopia increased from 22.4 billion birr (approximately 42.5 million USD) in 2019 to 49.9 billion (approximately 945 million USD) as of June 30, 2022, representing a 122% over three years. The figures were released by officials of the National Bank of Ethiopia (NBE), the central bank, on the sidelines of a meeting held with bank officials in Addis Ababa. According to Dr Yinager Dessie, the governor of the institution, the sector as a whole has recorded “remarkable growth” despite facing various challenges