- Dashen Bank's profit before tax rose 127.6 percent to 15.2 billion birr.
- EIB Global signed a 20 million euro SME credit line with Dashen.
- Dashen awaits regulatory approval for an investment banking unit.
- The central bank governor banned upfront and compounded interest on large deposits.
- Mastercard is bidding to enter Ethiopia's domestic payments system.
Banks
Dashen Bank Profit More Than Doubles to 15.2 Billion Birr as Assets Hit 350 Billion
Dashen Bank reported profit before tax of 15.2 billion birr for the financial year ended June 30, 2026, up 127.6 percent from about 6.7 billion birr. Revenue rose 49.2 percent to 46.9 billion birr, customer deposits grew 36.9 percent to 280 billion birr, gross loans increased 24 percent to 165.4 billion birr, and total assets reached 350 billion birr. The bank released the results on Thursday, October 29.
Birr Metrics
Dashen Bank and EIB Global sign €20 million SME credit facility
EIB Global, the European Investment Bank's financial arm, has signed a 20 million euro financing facility with Dashen Bank to expand long-term credit for Ethiopian SMEs, according to Capital Ethiopia. At least 70 percent of the funds go to agricultural value chains such as coffee, grains, fruits and vegetables, with minimum targets of 30 percent for climate action projects and 30 percent for women-owned or women-led businesses. Dashen CEO Asfaw Alemu and EIB Global Director General Andrew McDowell commented. Rates and terms will follow at disbursement.
Capital Ethiopia
Dashen Bank Awaits Approval for Investment Banking Unit
Dashen Bank is awaiting final regulatory approval to launch an investment banking unit, with documentation complete and specialist recruitment underway. CEO Asfaw Alemu told shareholders at meetings on October 29 that the unit will underwrite IPOs, advise on mergers and acquisitions and facilitate securities trading. Chairman Dulla Mekonnen said the unit is positioned to launch shortly. The license is separate from the share registration the ECMA granted in December 2025.
Birr Metrics
Payments and fintech
CBE President Abie Sano Says Bank Handles 73 Percent of Ethiopia's Digital Transaction Value
Commercial Bank of Ethiopia president Abie Sano said at the bank's third Cybersecurity Awareness Month conference in Addis Ababa on October 29 that CBE processes 73 percent of the more than 30 trillion birr in annual national digital transactions, at least 21.9 trillion birr. He said 92 percent of CBE's transactions are digital, and the bank serves over 48 million customers, including more than 46 million digital users. CBE did not disclose its cybersecurity spending.
Birr Metrics
Mastercard seeks entry into Ethiopia's domestic payments system as sector opens
Mastercard is bidding to enter Ethiopia's domestic payments system, according to Addis Fortune. The move comes as Ethiopia opens its payments sector to new participants, after the National Payment System Proclamation enabled foreign investment and cleared the way for Safaricom's M-Pesa.
Addis Fortune (@addis_fortune)
Markets and regulation
Ethiopian central bank governor bans banks' upfront and compounded interest offers for large deposits
National Bank of Ethiopia governor Eyob Tekalegn (PhD) has banned banks from competing for large deposits with upfront and compounded interest, according to Addis Fortune. The ban was issued in a September circular. The report says banks had used the practice to compete for large deposits before the prohibition.
Addis Fortune (@addis_fortune)
Sent by the Observatory.