Geda Bank Joint Stock Company officially started to provide services Geda Bank officially started its operations today in compliance with the guidelines of the National Bank of the country. The start-up program was held in the building built by the bank in the warehouse area.
In his speech at the program, the governor of the National Bank, Dr. Ynager Dese, said that the existing and new banks in Ethiopia are contributing significantly to the economy.
He pointed out that the banks, especially by supporting the private sector with loans, are making a significant contribution to the economy and stated that the amount of loans given by the banks is increasing as the economy is mostly driven by loans.
As the source of the loan is from savings, they indicated that the banks should consider saving as a basic activity. Geda Bank also requested to make its access in the rural part of the country and pay special attention to the agricultural sub-economy.
He assured that the National Bank will provide the necessary support for the success of the bank's purpose and vision. The head of government of the Oromia region, Shimeles Abdisa, said that the bank has a great opportunity to contribute to the economy. Ato Shimelis said that we should compete with the world while growing our economy. He assured that the regional government will provide the necessary support for the bank to succeed.
Chief executive officer of the bank, Wolde Bultu; He said that arrangements have been completed for the bank to provide services in thirty branches. He pointed out that when the bank enters the market, it will focus on the processes that promote growth.
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