DBE Registers Historically High Profit of Birr 1.13 Billion
Development Bank of Ethiopia (DBE) has registered outstanding net profit in the fiscal year 2019/20. Its total income generated is Birr 7.37 Billion and it is 111% of the plan target and it increased by 31% as compared with preceding year. The operating income/loss before tax of the Bank is Birr 1.27 Billion in the 2019/20 F.Y. All in all, during the year under review, the Bank gained a net income of Birr 1.13 Billion after provision and tax.
The historical high profit was disclosed by President of the Bank, Ato Haileyesus Bekele during the Annual Management Members Meeting held via video conference using Zoom platform on 21 & 22 August 2020 due to the wide-spreading of Corona Virus (COVID-19).
President of the Bank, Ato Haileyesus Bekele while chairing the meeting via video conference
During the meeting, performance report of the Bank by all districts, vice presidents and at the corporate level was presented and important discussion was held over by management members of the Bank.
According to the Report, the Bank approved Birr 10.4 Billion, disbursed Birr 8.54 Billion and collected Birr 7.7 Billion registering 76%, 71% and 98% of its planned target respectively during the fiscal year. Particularly, the Bank’s annual loan collection almost doubled as compared to previous year’s performance and its historical average performance.
The total loan portfolios of the Bank reached Birr 55.67 Billion and increased by 9% compared from previous year same period amount, Birr 51 Billion. While, NPLs ratio decreased by 4.6% compared from the previous year same period.
The Bank also sold Grand Renaissance Bond amounted to Birr 616.43 Million during the budget year under review.
During the meeting participants discussed operations of project and lease financing, bond sale, the reform related activities, financial, HR and other function’s performance of the Bank for the fourth quarter and the reporting year under review, challenges occurred such as COVID-19 and unrest, efforts to overcome the challenges, problems encountered, corrective measures taken, strengths and weaknesses evaluated and the way forward.
Finally, Ato Haileyesus Bekele appreciated all working units of the Bank at different levels for the successful achievements gained in the fiscal year and, he adding, this achievement should be continued more in next budget year by reducing NPLs, collection of loans and aggressively participate in bond sales.
In 2020/21 fiscal year, the Bank planned to approve Birr 10.09 Billion, disburse Birr 10.03 Billion and collect Birr 8.24 Billion as well as reduce NPL ratio to 25%.
Policy Banks, Proper Allies in Effort to stimulate Economy
These days there are a number of initiatives that mobilize billions of funds to address different socio-economic problems. Such funds are private sector development fund, competitiveness facility fund, covid-19 facility fund, green energy facility fund, etc. and are managed by different organizations mainly banks. Other types of funds such as economic stimulant fund are also poured by governments into banks in the name of saving jobs and improving income of the poor. It is common to read in financial literatures that banks are the lifeline of modern economies. However, based on their ownership structures, banks pursue different goals. Everywhere in the world, private banks are established by the rich and are primarily aimed at mobilizing savings from the public and channel it to the riches (i.e., for investment) and bring profit to the owners. Many of these banks tend to finance working capital and other risk free short term loans. That is why banks and other financial institutions are blamed by many as instrumental for making the rich getting more richer and widening the gap between the rich and the poor. This shows that all banks are not equal in their contribution for development.
On the economic side, governments are tasked with creating stable and well-functioning macroeconomic environment. To ensure these, governments develop and implement various macro-economic policies among which are the monetary policies. In turn, monetary policy specialists are aimed at achieving sustainably stable inflation rate, stabilizing interest rate, boosting long-term investments to attain full employment and inclusive growth. That is why monetary policy authorities (governments) establish policy banking (such as the Development Bank of Ethiopia, aka DBE) to bring change in the real economy through, among others, furnishing fresh and low cost loans to key economic sectors to bring faster and sustainable growth: creating new jobs, boosting foreign currency earning and financing SMEs to flourish and serve as a base for industrial development of the country. That is why policy banking is considered as pro-poor ensuring inclusive growth.
የ50ኛ ዓመት የጋብቻ የወርቅ ኢዮቤልዩ በዓልን ምክንያት በማድረግ የቦንድ ግዥ ተፈጸመ
ታዋቂው የፋይናንስ ባለሙያ አቶ ኢየሱስወርቅ ዛፉ እና ባለቤታቸው የ50ኛ ዓመት የጋብቻ የወርቅ ኢዮቤልዩ በዓላቸውን ምክንያት በማድረግ በባንኩ ዋናው መ/ቤት በአካል በመገኘት ከወለድ ነጻ የሆነ የአንድ ሚሊዮን ብር የቦንድ ግዥ ፈጽመዋል፡፡
በተያያዘም ኢንጂነር ተረፈ ራስወርቅ የዛሬ ስምንት ዓመት የ50ኛ ዓመት የጋብቻ የወርቅ ኢዮቤልዩን በማስመልከት በልጅ እና ልጅ ልጆቻቸው ሥም ለእያንዳንዳቸው የ50 ሺህ ብር የቦንድ ግዥ ፈጽመው የነበሩ ሲሆን አሁንም በልጃቸው ሥም የብር 350 ሺህ የቦንድ ግዥ ፈጽመዋል፤ በአጠቃላይ ቤተሰቡ ከአንድ ሚሊዮን ብር በላይ ግዥ አከናውነዋል፡፡
በቦንድ ግዥ ሥነ ሥርዓቱ ላይ የባንኩ ፕሬዚዳንት አቶ ኃይለየሱስ በቀለ የህዳሴ ግድቡ ሙሌት ሥራ መጀመሩ ትልቅ ብሥራት መሆኑንና ለዚህም ባንኩ ከመጀመሪያው ጀምሮ ከፍተኛ አስተዋጽዖ ማድረጉን ገልጸዋል፡፡ በተጨማሪም በቅርቡ ለግድቡ ግንባታ የብር 5 ሚሊዮን ቦንድ ገዝቶ በስጦታ መለገሱን፣ ከሥራ መሪዎች ጀምሮ ከደመወዛቸው ላይ እያዋጡ እንደሚገኙ እና የግድቡ ግንባታ ሥራ ስላልተጠናቀቀ ለወደፊቱ ተጠናክሮ እንደሚቀጥል አብራርተዋል፡፡ በዚሁ ዓላማ አንጋፋዎቹ ሰዎች ባንኩ ድረስ በመምጣት የቦንድ ግዥውን በመፈጸማቸው ፕሬዚዳንቱ ከፍ ያለ ምሥጋና አቅርበዋል፡፡
አቶ ኢየሱስወርቅ ዛፉ የህዳሴ ጉዳይ የእያንዳንዱ ኢትዮጵያዊ አስተዋጽዖ ያለበትና “አሻፈረኝ እምቢ የምትል ኢትዮጵያ ተፈጥራለች” በማለት የገለጹ ሲሆን ኢንጂነር ተረፈ ራስወርቅ በበኩላቸው “ግድቡ የእኛ ነው” የሚለው አባባል ትልቅ መልእክት ያዘለና ሁላችንንም የሚያስተሳስረን ነው ብለዋል፡፡
ሕጻናት ለልደታቸው በተቀመጠው ብር የቦንድ ግዥ ፈጸሙ
የአቶ በኃይሉ ዳንኤል ሶስት ህጻናት ልጆች እና ባለቤታቸው ልደታቸውን ለማክበር የተቀመጠላቸውን ብር ለቦንድ ግዥ አውለዋል፡፡ ግዥውን የፈጸሙት ሐምሌ 08 ቀን 2012 ዓ.ም በኢትዮጵያ ልማት ባንክ ዋናው መ/ቤት በመገኘት ነው፡፡
በእለቱ የባንኩ ተ/ም/ፕሬዚዳንት ኮርፖሬት አገልግሎት አቶ ደሳለኝ ቦጋለ ይህ ተግባር ለሌሎች መሰል የነገ አገር ተረካቢ ህጻናት እና መላው ህብረተሰብ አርአያ የሚሆን ስለሆነ ተጠናክሮ ሊቀጥል ይገባል በማለት አበረታተዋል፡፡
በመቀጠል ከታላቁ ህዳሴ ግድብ ሕዝባዊ ተሳትፎ አስተባባሪ ብሔራዊ ምክር ቤት ጽ/ቤት የሕዝብ ግንኙነት ኃላፊ አቶ ኃይሉ አብርሐም በበኩላቸው መንግስት ህብረተሰቡን በማስተባበር ከመቼውም ጊዜ በተሻለ ግንባታውን እየፈጸመና የውሃ ሙሌቱንም እንደጀመረ ተናግረው ሌሎችም ይህን አርአያነት ያለው ተግባር በመከተል ለታላቁ ህዳሴ ግድብ ግንባታ ቦንድ እንዲገዙ እና ተሳትፎ እንዲያደርጉ ጥሪ አቅርበዋል፡፡
የሕጻናቱ አባት ሶስቱ ልጆቻቸው እና ባለቤታቸው ልደታቸውን ለማክበር ለእያንዳንዳቸው በተቀመጠው ብር አምስት ሺህ በድምሩ የብር 20 ሺህ ብር ቦንድ በራሳቸው ተነሳሽነት ገዝተዋል በማለት ገልጸዋል፡፡
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