20 Years in Business

Dashen Bank celebrated its 20th anniversary with a symposium commemorating the occasion held at the Sheraton Addis Hotel on January 19, 2016. The date also marked the birthday of the Bank’s President, Asfaw Alemu, see above (left), closely following what Johannes Kinfu (right), Professor Emeritus of Accounting & Finance at Addis Ababa University (AAU), was saying to him. Johannes, a one time Board Chair at Lion International Bank, and current Director of Training at MIDROC Ethiopia and the President, were having a chat during the tea break, which was an active networking opportunity. Symposium attendees flocked to these two personalities and continued to talk shop.
The half-day event, dubbed ‘Banking in Ethiopia in 2020’, was designed to host the presentation of studies on Ethiopia’s Financial Services Industry (FSI), followed by rather lacklustre discussions, until Zemedeneh Nigatu, managing partner at Ernest & Young Ethiopia told the banks they should merge. The discussions and banter picked up from there. The various guests in attendance, including 150 participants from the financial sector, sang an impromptu ‘Happy Birthday’ as Asfaw walked towards the stage to invite the guests to the lunch prepared at the hotel. After a two-decade long journey, Dashen Bank has been able to amass over 24 billion Br worth of assets, and build its share capital up to 1.2 billion Br.
Loans and advances worth over a billion Birr, enabled by over four and a half billion Birr of deposits, have pushed the Bank’s total income to 1.1 billion Br in the previous fiscal year alone.


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