Central Bank Approves Lion Bank’s President

ADDIS ABABA – The National Bank of Ethiopia (NBE) approved the appointment of Daniel Tekeste as the President of Lion International Bank (LIB).

The Central Bank communicated its decision to Lion in a letter signed on February 17, 2022, according to LIB.

In the letter, the NBE stated that “after evaluating the relevant documents and evidences, it has approved the appointment of Daniel Tekeste as the President of the Bank.”

Prior to the approval of his presidency, he served as an Acting President of the bank for the last six months.

Daniel has been working in the Ethiopian banking industry for the past 21 years, according to Lion Bank. He previously worked at Commercial Bank of Ethiopia and Lion International Bank in various capacities.

At LIB, Daniel’s previous jobs include Director of Risk and Compliance Department, Director of International Banking Department and latter Vice President Of Business Strategy Management and Modernization.

He is now the fifth President of Lion International Bank which was established in Oct 2016 with initial paid-up capital of Birr 108.2 million and 3,739 shareholders.

Daniel officially assumed the new position in the wake of a huge in the bank’s annual profit.

Two months ago, the bank reported a 336 million Birr drop in annual gross profit owing it to the impact of the security situation in Northern Ethiopia.

According to its 2020/21 annual report, the Bank secured 414.1 million birr profit before tax the end of the budget year as compared to the 780.6 million birr in the previous year.

LIB’s total capital and reserve, however, grew to 3.6 billion birr from the previous year’s 3.5 billion birr, while its paid-up capital increased by 16% to reach 2.5 billion Birr.

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