National Bank of Ethiopia – Annual Report 2007/08
The high people-to-bank branch ratio indicates that Ethiopia still remains as one of the underbanked economies even by Sub-Saharan Africa standards, said Teklewold Atnafu, the governor of the country's central bank in its latest Annual Report.
Atnafu said that encouraging results were also observed in the financial sector despite extraordinary shocks in the global financing system that unfolded in 2007 through 2008. He said that with new banks established, the number of banks operating in the
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