DBE Carries Out 2^nd Quarter Meeting

Second Quarter Management Members Meeting of the Development Bank of Ethiopia was carried out here in Addis Ababa at the Ministry of Trade & Industry Conference Hall on February 01-02, 2019.

During the meeting, 2018/19 Second Quarter Performance Report of the Bank at the corporate level was presented by the Strategy, Change and Communication Directorate as well as by the respective Vice Presidents and discussed comprehensively by management members of the Bank.

The Report covered the change related activities, credit operations, financial, HR and other function’s performance of the Bank for the second quarter and semi-annual, problems encountered, corrective measures taken, strengths and weaknesses observed and the way forward.

According to the Report, the credit operations performance of the Bank’s for this quarter is better than the previous year same period. Overall, the Bank registers satisfactory level performance by approving birr 3.94 billion, disbursing birr 2.39 billion and collecting birr 1.03  billion both in project and lease financing services.  

The Bank also sold Grand Renaissance Bond amounted to birr 483.09 million during the quarter against its planned sales of 250 million.

Discussion is also held on the performance of the three selected districts, namely, Hawassa, Adama and Gondar and feedbacks were collected.   

President of the Bank, Ato Haileyesus Bekele during his remark said the Bank is undergoing through transformation initiatives both in internal capacity and through external consultants and everyone in the Bank should cooperate for the successful implementation of these change initiatives and transforming the Bank. In addition, all management members need to be responsive by taking into account the risk that the Bank faces instead of being rigid for customer enquiries.  

 Finally, Ato Haileyesus insists all management members of the Bank working in different levels should work hard to contribute share to improve loan collection, reduce NPLs and minimize lengthy work process.