Yohannes Ayalew (PhD), who served as president of the Development Bank of Ethiopia (DBE) for four years, has resigned and is now appointed CEO of Amhara Bank, effective September 13, 2024. Yohannes took over leadership of DBE on September 12, 2020, during a challenging period marked by non-performing loans (NPLs) exceeding 57%. Under his guidance, DBE significantly improved, reducing NPLs to just 6.7% and returning to profitability with 5 billion birr in profits by 2023.
Previously Yohannes served as vice governor and chief economist at the National Bank of Ethiopia. He also worked as an executive director at the Ethiopian Development Research Institute.
Amhara Bank’s board of directors appointed Yohannes to lead the young and fast-growing institution.
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