All of us has been influenced by the battling. No bank is resistant to the issue,” Getachew Solomon, President of Lion Bank, disclosed to The Reporter.
The two greatest private banks, Dashen and Awash have likewise been profoundly affected by the battling and they are probably going to observe an expansion in awful advances since they couldn’t gather credits from the locale.
“While gathering advances is presently incomprehensible in the area, banks are left between a stone and hard spot. A few of us don’t have the foggiest idea about the whereabouts of our cash gathered by branches in the district,” said a Senior Executive working at one of the private banks.
Prior to the contention, the NPL of Wegagen Bank was at 5.3 percent, the most elevated among every business bank and three rate focuses higher than that of the suggested pace of the National Bank of Ethiopia (NBE), while Lion’s was at 4.6 percent, the fourth-most noteworthy in the business.