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                        DBE Conducts 1st Quarter Management Meeting

Development Bank of Ethiopia conducted its First Quarter Management Members Meeting on October 28 and 29, 2017 here in Addis Ababa.

  

 

The budgetary performance plan of the Bank’s first quarter meeting report was presented by the Strategy, Change and Communication Directorate Director and discussed over by the Bank’s Executive and Middle - Level Management members exhaustively during the two days meeting.

On the second day, the meeting continued aiming to revise Credit policy of the Bank and exhaustive discussion was held over the draft policy.

The report indicated that during the aforementioned period the Bank registered cumulative performance labeling satisfactory both in project and lease financing schemes.

Furthermore the report pinpointed during the specified time the Bank approved birr 2.10 billion, disbursed birr 1.43 billion and collected birr 1.21 billion.  

The report further indicated that borrowers had generated Birr 352.2 million foreign currency during the reporting period under review.

  

 

The Bank also sold close to Birr 628 million Grand Renaissance Dam Bond during the reporting period, according to the report.

Following the presentation of the report, issues with regard to ways how to reducing NPLs, paying close follow up on the Bank’s projects, regarding the Grand Renaissance Dam Bond sale especially in districts and branches, solid work in relation to Know Your Customer (KYC) task, and over-all attitudinal change across employees and management members are thoroughly discussed over. 

After the discussion, the President stressed all the management members and employees of the Bank at all levels to work aggressively in the efforts of reducing NPLs and doing close follow up on the Bank’s projects.

During the current 2017/18 fiscal year, the Bank has set plan to approve Birr 14.03 Billion, disburse Birr 9.99 Billion and collect Birr 6.09 billion.