NBE Raised Banks’ Minimum Paid-up Capital

The National Bank of Ethiopia introduced a new threshold for banks’ minimum paid up capital, raising the bar to ETB5 billion, up from the current ETB500 million. Existing banks are given five years grace period to meet the new threshold, while new banks in seven years, according to Frezer Ayalew, Bank Supervision director at NBE, who said the letter is just dispatched for the commercial banks.