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President of Ethiopian Development Bank Yohans Ayalew said that the Bank was able to collect ETB 10.9 billion to be given as loans during the concluded fiscal year. He also revealed that the Bank made a profit of ETB 3.8 billion during the same fiscal year.
President of Ethiopian Development Bank Yohans Ayalew said that the Bank was able to collect ETB 10.9 billion to be given as loans during the concluded fiscal year. He also revealed that the Bank made a profit of ETB 3.8 billion during the same fiscal year.
The Bank also reduced the level of bad loans to 17% excluding projects in the Tigray region. Many projects in Tigray went into bad loans, making the 2021/22 fiscal year challenging for the Bank.
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The Bank plans to disperse ETB 14 billion as loans in the 2022/23 fiscal year by strengthening its delivery systems.The bank also aims to reduce the level of bad loans from 17% to 10%.
