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The president of Light Bank resigned from his position

* The former vice president of the bank was appointed in his place

#Ethiopia Sources specifically told Tirta 97.6 FM that the president of Light Bank, Mr. Grum Tsagaye, has resigned from his position. Our sources added that Ermias Tefera, the former vice president of the bank, was appointed in his place.

The bank's board on October 19, 2016. Our sources, who stated that the decision was passed in the meeting, said that the reason for the departure of the president was poor performance.

Mr. Goorum, who led the bank for the past one year and eight months, resigned from his position because he did not bring about the changes he said he had brought when he joined the bank.

The bank's 11-member board headed by Mr. Gumama Kuse elected Mr. Ermias, who previously served as the bank's vice president and is currently working as a private consultant, as the bank's president.

According to our sources, Ermias, who was appointed as the fourth president of the bank, was successful and popular with his colleagues when he previously served as the bank's vice president.

 According to his personal file, Ato Ermias received a degree in economics from Addis Ababa University and a master's degree in business administration from Greenwich University. Mr. Ermias has worked in the banking industry for more than 25 years, and in addition to Berhan Bank, he has served in various positions at Commercial Bank of Ethiopia, Awash Bank, Abyssinia Bank and Mother Bank.

- The former vice president of the bank was appointed to replace him. According to the annual report, he recorded a profit of 583.4 million birr before tax.

The report mentioned that this profit showed a growth of 72.8 percent compared to the previous financial year, and the paid-up capital reached 3.2 billion birr.

Source

Beat 97.6 FM

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