Global Bank makes a Deal to Own More than 5 Percent of ESX

Global Bank now owns more than five percent stake in the upcoming stock exchange, the Ethiopian Securities Exchange (ESX).

The bank and the securities exchange have agreed for the bank to take a 50 million birr share, according to the statement that ESX sent to the media.

Global Bank Ethiopia S.C is a privately owned share company which started operation on August 28, 2012. The bank is established to provide a wide range of banking services to both domestic and international businesses with quality customer services, higher value creation for stakeholders and to be a responsive corporate social citizen by effectively blending commercial pursuit with social responsibilities.

The Bank was established with a subscribed capital of Birr 266.9 Million and a paid-up capital of Birr 138.9 million. Currently, the Bank has a total capital of Birr 339.2million, which includes the paid-up capital, legal and special reserves. In the coming 5 years, it has planned to raise its paid-up capital to two-billion Birr. At the same time, it plans to expand its branches in all parts of the country and to deliver quality and a wide variety of banking services.

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