Ethiopia: DBE Suffers Mammoth Loss of 1.7 Billion Br

Experts see DBE's mounting non-performing loans (NPLs) could be behind the Bank's caution in its lending drive this year, judging by the decline in income and earned interest.

The Development Bank of Ethiopia (DBE), the state-owned policy bank established to provide development financing, has suffered a mammoth loss of 1.7 billion Br from its operations during the first three-quarters of 2018/19. This is an amount never recorded in the history of the country's financial industry. The loss is comparable to the gross profits recorded two years ago by six private banks.

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