Dev't Bank of Ethiopia Collects About 11 Billion Birr Loan
Ethiopia, Aug. 8 -- Addis Ababa, August 8, 2022(Walta) - The Development Bank of Ethiopia has announced that it has collected some 10 .9 billion Birr from the loans it offered to customers during the just concluded fiscal year.
The bank was also able to bring down the level of bad loans to 17 percent, excluding projects in the Tigray region.
President of the Bank, Dr. Yohannes Ayaleu told ENA that the fact that several projects in Tigray went into bad debt has been making the year challenging for the bank.
However, he said that the bank took quick changes to mitigate the problem and was able to reduce the bad loan level in 2021 from 15 billion birr to 9 billion birr in the fiscal year excluding Tigray.
According to him, the bank colle...
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