During the year LIB has earned a total of close to 335 million Birr profit after tax, while its profit for the previous year was 643 million Birr. Now they are telling us the profit has declined because of the conflict in Tigray Region,” one shareholder told NewBusinessEthiopia.com. In Ethiopia it is not common for private banks to report declining annual profit from the previous year. The total assets of LIB have increased to 32.2 billion Birr from 31.78 billion Birr the previous year. “…Our bank has managed to disburse loans and advances of 5.4 billion Birr (an increase of 14.4 percent over the preceding year), raising the outstanding loan balance to 21.8 billion Birr.

Source: Ethiopian News December 19, 2021 15:41 UTC