Development Bank of Ethiopia Generates 6.4 Billion Birr Profit

Addis Ababa August 3/2023(ENA):- Development Bank of Ethiopia has generated 6.4 billion birr profit alongside its massive support of the country's crucial development programs, President of the bank Yohannes Ayalew said. 

Briefing the media on its performance report in 2022/23 fiscal year today, the president stated  that the reform has played crucial role in reviving the bank so as to play its pivotal role in supporting various initiatives including providing trainings to the youth across the nation. 

Among others, the bank has generated 6.4 billion birr during the stated period as the Bank was generated 3.9 billion birr in profit last budget year. 

The bank also registered massive achievements in loan approval, lease financing, and disbursement among others, it was indicated. 

Currently, the total capital of the bank reached to 38 billion birr which is the second next to the Commercial Bank of Ethiopia.