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Global Bank Ethiopia Announced 836M Birr Pre-tax Profit

In a press release issued on December 12, 2023, Global Bank Ethiopia, formerly known as Debub Global Bank, proudly announced a substantial pre-tax profit exceeding 836 million birr. This noteworthy achievement was revealed by Mrs. Meaza Wondimu, the assistant chief of the bank's strategy and transformation, during a report on Bisrat Radio and Television.

According to Mrs. Wondimu, the financial success extends further, with the bank boasting an impressive income surpassing 3 billion birr in the last fiscal year. As the custodian of a substantial 14.3 billion birr in deposits, Global Bank Ethiopia's assets have surged to an impressive 19 billion birr. Moreover, strategic initiatives are underway to bolster the bank's capital to an impressive 3 billion birr.

Highlighting the bank's extensive reach, Mr. Binyam Fikadu, the director of the bank's marketing and communication department, shared that Global Bank Ethiopia has cultivated a robust customer base of 1.2 million individuals. Additionally, the bank has expanded its physical footprint with 152 branches established in the preceding fiscal year.

An exciting development in the bank's growth trajectory is the acquisition of a substantial 5550 square meters of land in Addis Ababa, around Mexico, earmarked for the construction of an ambitious 50-story twin-building headquarters. This strategic move not only underscores the bank's commitment to modern infrastructure but also positions it as a key player in the evolving financial landscape of Ethiopia.

Global Bank Ethiopia, celebrating its 12th anniversary, was founded with a paid-up capital exceeding 138 million birr. Over the years, the institution has evolved to become a formidable financial entity, embodying resilience, innovation, and a steadfast commitment to delivering value to its diverse clientele.

As the bank continues to chart a trajectory of success, these achievements underscore not only its financial prowess but also its pivotal role in shaping the economic landscape of Ethiopia. The future appears promising for Global Bank Ethiopia, as it endeavors to set new benchmarks in the financial sector and contribute meaningfully to the socio-economic development of the nation.

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Global Bank Ethiopia Announced 836M Birr Pre-tax Profit

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