Development Bank of Ethiopia said its Non-Performing Loan (NPL) ratio during the past fiscal year was 40 percent. According to Haileyesus Bekelle, president of the bank, the rise of the NPL ratio is attributable to the ineffectiveness of rain dependent commercial farming projects. Out of the 471 commercial agriculture projects which the bank financed, only 177 projects are in good shape while the 298 partially maintain requirements. Development Bank of Ethiopia operates as a finance institution in Ethiopia. The company offers current accounts, time deposits, safety deposits, and demand deposits.

Source: Ethiopian News September 30, 2018 10:18 UTC