Banking Sector Registers Better Performance in Various Variables: National Bank Governor

The banking sector has registered better performance on various healthy variables during the concluded Ethiopian fiscal year, National Bank Governor Yinager Dessie said.

The Macroeconomic Committee met on Wednesday in the presence of Prime Minister Abiy Ahmed to evaluate the performance for the stated fiscal year and the banking sector was mentioned among the sectors that attained better performance.

The banking sector registered better performance in asset, loan repayment, and other healthy parameters.

The governor stated that the total assets of banks reached 1.7 trillion.

He added that the sector has registered 26.7 percent growth as the capacity of banks in repayment of loans increased to 48.7 percent during the concluded fiscal year.

The introduction of Tele-Birr has enhanced the digital system as it is crucial to control money laundering and contraband and stabilizing inflation.

Despite all the encouraging achievements, the Governor noted that the amount of foreign currency provided for the private sector is not sufficient.

Therefore, activities will be undertaken to increase foreign currency, including export trade.


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