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.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


U.S. interests with the Sudan made the Darfur issue disappears from the radar 2016-09-23 20:21:06 By Mahmoud A. Suleiman U.S. only Cares for Interests U.S. Department of State Office of the Spokesperson, John Kirby, stated on September 20, 2016 that the United States welcomes cooperation (...)

Critique of Prof. John Akec’s mistaken UN trusteeship 2016-09-18 10:28:12 By James Okuk, PhD As my part-time top boss at University of Juba, I would like to thank the Vice Chancellor, Prof. John Akec for keeping his private hobby of public writing. Many intellectuals (...)

Darfur and U.S. Presidential Campaigns: Making genocide disappear 2016-09-16 23:10:38 By Eric Reeves In both the 2004 and 2008 presidential campaigns, the Darfur region of western Sudan was an unlikely but entirely appropriate topic. After all, the U.S. Congress had—in a (...)


MORE






Latest Press Releases


Sudan: No justice for protester killings 2016-09-23 08:03:30 (Nairobi, September 22, 2016) – Sudanese authorities have yet to provide justice to victims of a violent crackdown on anti-austerity protesters in Khartoum in September 2013, the African Centre (...)

Kiir’s rope -à-dope 2016-09-08 12:57:35 COMMUNIQUE September 6, 2016 By Pa’gan Amum Okiech for South Sudan Reborn The United Nations Security Council, with all of its strength and power, is now being challenged by a diplomatic (...)

Sudanese students, activists are at risk of torture: HRW 2016-05-25 14:40:51 Human Rights Watch Sudan: Students, Activists at Risk of Torture Free Detainees; Investigate Abuses (Nairobi, May 25, 2016) – Sudanese national security officials have detained dozens of (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.