Home | News    Sunday 15 April 2012

Ethiopian private bank to join banking industry in South Sudan

separation
increase
decrease
separation
separation

By Tesfa-Alem Tekle

April 14, 2012(ADDIS ABABA) - One of Ethiopia’s leading banking groups United Bank is poised to open its first branch outside Ethiopia in South Sudan’s capital Juba, according to a release from the bank.

The new venture will make it Ethiopia’s first private bank to break into the banking industry inside the continent’s newest nation. The Kenya Commercial Bank also has a presence in South Sudan.

The state-owned Ethiopian Commercial Bank (ECB), opened a branch in South Sudan in 2009 following the 2005 Comprehensive Peace Agreement that brought an end to over two decades of civil war between Sudan and South Sudan.

United Bank said it is finalising preparations to open in Juba. When opened, the bank said it will render all types of commercial banking services.

Banking policies in South Sudan oblige foreign bank firms to have a minimum of 15 million dollars of initial capital to begin operation.

United Bank say it plans to open more branches in other African countries.

Founded in 1998, currently United Bank has 57 branches across Ethiopia. During the 2010/2011 fiscal year the bank reported an all time high gross profit of 330 million Birr - around $19 million.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


“The Nile: Shared River, Collective Action” 2018-02-22 08:06:26 By Dr. Eng. Seleshi Bekele Ethiopia is hosting the 2018 Regional Nile Day Celebration in commemoration of the establishment of the Nile Basin Initiative (NBI) on February 22, 1999 in Dar es (...)

James Dak’s case:: Why death sentence should be canceled 2018-02-19 14:27:34 By Peter Gai Manyuon On Monday 12th of February 2018, a South Sudan court in Juba sentenced James Gatdet Dak to death by hanging, citing several provisions in the constitution as the basis upon (...)

The Position of the SPLM-N on Relief Delivery Same Wine, Old Bottles! 2018-02-18 06:50:42 By Elwathig Kameir On January 19, 2017, I published an article titled “Armed Struggle and Civil Resistance in Sudan: Catch 22,” from which I quote the following opening paragraphs (from i to iii): (...)


MORE






Latest Press Releases


Petition for release of Agou John Wuoi from prison 2018-02-15 20:45:31 Open letter to South Sudan President Salva Kiir Your Excellency, Kindly please permit me to take this rare opportunity to appreciate you for every effort you have made toward making South Sudan (...)

AUHIP Communiqué on Sudan & SPLM-N talks for cessation of hostilities agreement 2018-02-05 13:04:16 African Union High-Level Implementation Panel for Sudan and South Sudan Joint Statement on Unilateral Ceasefire, Cessation of Hostilities and Completion of Negotiations 1) With the facilitation (...)

South Sudanese rights group call to release political detainees 2017-12-10 07:50:31 THE INTERNATIONAL HUMAN RIGHTS DAY: 10 DECEMBER 2017: SSHURSA CALLS ON ALL TO ACTION FOR SOUTH SUDANESE The 10 December usually marks the international human rights day. SSHURSA notes with (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.