Ethiopia's Banking Sector Gets New EntrantDecember 27, 2017 - A new bank under establishment called Dalol Bank SC is subscribing shares by public offering to become the newest entrant to Ethiopia’s banking industry, reports Ethiopian English weekly newspaper Addis Fortune. The company has issued shares with 1,000 par value with the minimum number of shares an individual can buy being 25. According to the National Bank of Ethiopia’s directives the minimum capital requirement for banks is 500 Million Birr. Up until the last quarter of the current fiscal year, the privately owned 16 banks have a capital tally of 28 billion Birr. They have also disbursed around 135 billion Birr loan and their deposit sheet shows 200 billion Birr.

Source: Ethiopian News December 27, 2017 19:41 UTC