Global Bank Ethiopia has announced that it was able to register a profit of more than 1 billion birr. The Bank, which has more than 20,000 shareholders, has stated that it was able to register a profit of more than 1 billion 25 million birr in the last financial year.
Last year, the bank was able to register a profit of 823 million birr. Global Bank Ethiopia was established in August 2012 with a subscribed capital of Birr 266.9 million and a paid-up capital of Birr 138.9 million.
It boosted its paid-up capital from Birr 138.9 million to Birr 2.4 billion, and the subscribed capital is Birr 5 billion. It has over one million customers and 200+ branches located both in the capital and regional cities. The total assets of the company have reached more than 21 billion birr.
Read more..
More Stories
Ethiopia Prepares to Sell Electricity to South Sudan & Tanzania
Amount Allocated for Ethiopian University Students’ Food Expense Raised
NBE Alerts Banking Sector to Growing Credit Risk Concerns