A new report predicts double digit growth of Ethiopia’s banking industry. Ethiopia’s commercial banking sector will post a steady expansion over 2017, with both loan and deposit growth continuing on a strong upward trend, according to Business Monitor International (BMI) latest report on banking industry of Ethiopia. Robust economic growth will continue to raise disposable incomes, boosting demand for credit and transaction accounts. The country will still post strong economic growth and will see higher value added industries become increasingly important economic drivers over the years ahead. Structural Characteristics of the Banking SectorWhile Ethiopia’s banking sector will continue to be heavily regulated by the government, we expect private banks to rise in prominence over the next several years.

Source: News Business Ethiopia March 17, 2017 14:48 UTC