DBE’s 3^rd Quarter Meeting Held

Third Quarter Management Members Meeting of the Development Bank of Ethiopia /DBE/ held on 11 & 12 of May 2019 at the Ministry of Trade and Industry Conference Hall.  

Opening the speech, President of the Bank, Ato Haileyesus Bekele said this meeting will mainly discus on the third quarter and nine months performance Report of the Bank and from the discussion important inputs will be gathered for the next year plan preparation.

Following the remark, three selected districts namely Addis Ababa, Mekelle and Wolayita Sodo districts as well as third quarter performance report at the corporate level was presented by responsible working units and important discussion was held.

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

According to the Report, the credit operations performance of the Bank for this quarter is better than the previous year same period. Overall, the Bank registers satisfactory level performance by approving birr 2.79 billion, disbursement of birr 2.2 billion and collection of birr 1.62  billion both in project and lease financing.  

The Bank also sold Grand Renaissance Bond amounted to birr 278.39 million during the quarter.

The Reform Plan of the Bank and the International Financial Reporting Standards /IFRS/ activities was also presented during the second day of the meeting and discussed in detail for the next subsequent action.

President of the Bank, Ato Haileyesus Bekele finally said the Bank is undertaking transformation initiatives both in internal capacity and external consultants and every individual in the Bank should collaborate for the successful achievement of the reform plan including IFRS, work aggressively to improve loan collection, bond sale and minimize NPLs by half at the end of this budget year.