The Public Enterprises Holding and Administration has evaluated nine-month performance of Development Bank of Ethiopia in the evaluation summit held at the Bank’s meeting hall on May 15, 2024.

During the performance review, it is stated that the bank is building Ethiopia. The Bank faced difficulties before 2018 and reached near to dissolution due to maladministration. Its NPL was as high as 40 percent and its capital reached to 2.2 bullion birr. It was extraordinary to speak about profit.

However, after the new reform, new and experienced board and management members were appointed. The newly appointed leaders designed strategic plan and started their function. His Excellency Mr. Habtamu Hailemikael, Director General of Public Enterprises Holding and Administration, reminisced the situation and said ‘when we started the reform, our attention was not about how can we make profit but about how can we save the Bank from dissolution.’

May 15, 2024 was the eve of conclusion of five years strategic plan of the Bank. This day was also the evaluation day of the nine-month performance of the Bank.During the evaluation it was learnt that the Bank’s capital increase by a thousand fold. Now the Bank’s NPL is lower than 7 percent. Within its nine-month performance, the Bank has made total revenue of 9.7 billion birr and earned 3.98 billion birr profit before tax. It has provided 69.54 million birr support to different community members through its corporate social responsibility plan. It has provided USD198.06 million to its clients. It has disbursed 5.97 billion birr for SMEs through project and lease financing.

Excellency Mr. Habtamu Hilemivhaele, Director General of Public Enterprises Holding and Administration, in his conclusion speech expressed that the Bank is in building Ethiopia.He further said that the Bank’s achievement can show the success of the government’s reform program.