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Ethiopia: PFEA Organises Credit Management Training for Bank Brass
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Addis Fortune (Addis Ababa)
10 December 2007
Posted to the web 10 December 2007
Issayas Mekuria
Public Financial Enterprises Agency (PFEA), the government agency in charge of state-owned financial institutions, organised a two-day seminar in collaboration with the United Nations Industrial Development Organisation (UNIDO) for executive managers and board of directors of state-owned and private banks.
Veteran British banker Barry Northrop will give a lecture on credit risk management and credit ratings on December 10-11, at the Sheraton.
It is the first time that the PFEA, established two years ago in September 2005, has organised such a workshop.
"The business of banks is to manage risk," Eyob Tesfaye (PhD), director general of the Agency told Fortune. "This is why we focus on risk."
When the agency began operation, its first director general was Getachew Gebre but after his resignation in 2006, Neway Gebreab, chief economic advisor to the Prime Minister, was its acting director until Prime Minister Meles Zenawi appointed Eyob in July 2007.
PFEA supervises three state-owned banks - Commercial Bank of Ethiopia (CBE), Development Bank of Ethiopa (DBE) and Construction and Business Bank (CBB) - and one insurance company, Ethioipian Insurance Corporation (EIC).
The banks under the Agency have total assets of 50 billion Br and manage 34 billion Br deposits and 14 billion Br in loans. Their combined capital is 6.5 billion Br.
Executives and board of directors of these three banks will receive training from the Brit tomorrow on Monday, while the training for the following day is reserved for executive management members and board of directors.
Lectures by Northrop under credit risk management include nature of risk and nature of banks, credit grading, portfolio management, credit analysis and credit grading, portfolio management, credit analysis and credit policy, and risk management troubleshooting.
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According to an official at the CBE, it is a great leap forward that the dormant Agency plans to organise a training for banks on credit risk management.
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