NBE Approves Debub’s First Vice President




The National Bank of Ethiopia has approved Tesfaye Boru as the new vice president of operations for Debub Global Bank. Tesfaye was the director of the Department of Knowledge and Innovation at Zemen Bank for eight years. This makes him the first vice president for Debub Global.

“I have a plan to boost the Bank’s customer service standards, and bring in new products,” said Tesfaye. “I also want to improve the use of technology throughout the Bank.”

The 35 years old Tesfaye is a PhD candidate at the University of South Africa and holds a Masters in Business Administration and a Bachelor Degree in Economics and Management.

Debub has been looking for a vice president for about a year. Founded five years ago, Debub earned a net profit of 51 million Br last fiscal year.

However, the Bank is struggling to meet the minimum paid up capital requirement set by the National Bank of Ethiopia. Until June 2016, the paid up capital of the Bank reached 262 million Br, which is half of the requirement set by the central bank.



Published on Mar 11,2017 [ Vol 17 ,No 879]


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