Berhan Bank appoints acting President

Berhan Bank has appointed Bethlehem Getachew as its acting president after the resignation of its president Abraham Alaro this week.
On Wednesday November 5, 2021 Abraham Alaro who has been serving the bank as president starting from 2014 has submitted his resignation letter to the Board of Directors informing them his resignation on the basis of personal matter.
In a statement sent to capital, Berhan Bank has said that the board of the directors are discussing on the resignation letter but to fill the gap and continue the daily activities of the bank the board has decided to appoint Bethlehem as acting president. According to the statement Bethlehem will take the presidency until a replacement is appointed.
Starting from March 2013 up to September 2014 Abraham has been working at the bank as vice president and since September 2014 he has been serving as president.
Bethlehem is currently serving the bank as Vice President on Customer Service and Quality Assurance
Berhan Bank was registered and licensed by the National Bank of Ethiopia on 27 June 2009 with a paid up capital of Birr 95.7 Million divided in to shares of Birr 1,000 and an authorized capital of Birr 300 Million. Berhan Bank S.C started operation on October 30, 2009. Currently the initial capital of Berhan bank stands at 3 billion birr.
In its latest annual report of the 2019/20 year, on January 2021 Berhan Bank has expanded its revenue by 30 percent in the financial year concluded in June, while the profit has climbed by 22 percent. The bank managed to register 2.8 billion birr revenue up from 2.2 billion birr in the 2018/19 financial year.
The interest expenses have also increased by 35 percent and reached at 818 billion birr from 605 million birr which Berhan has achieved massive progresses like the income and profit in other measurements in the year.