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Ethiopian Deposit Insurance Fund Records ETB 2.6 Billion in Q1 Premiums

The Reporter · 4 hours ago · Read the Full Story on The Reporter
Ethiopian Deposit Insurance Fund Records ETB 2.6 Billion in Q1 Premiums
AI SUMMARY

The Ethiopian Deposit Insurance Fund collected ETB 2.61 billion in Q1 premiums, marking a 25.48 percent increase from the previous year.

  • The Ethiopian Deposit Insurance Fund (EDIF) collected ETB 2.61 billion in annual premiums during the first quarter of the current fiscal year.
  • This collection represents a 25.48 percent increase compared to the same period in the previous year.
  • EDIF has accumulated a total of ETB 26.03 billion in premiums from member financial institutions since commencing operations.
  • The Commercial Bank of Ethiopia accounts for 48.1 percent of cumulative collections with ETB 12.55 billion, while private commercial banks provided ETB 13.17 billion, or 50.6 percent and microfinance institutions accounted for ETB 310 million, representing 1.19 percent of the total.
  • Conventional deposits generated ETB 23.55 billion of total collections, while interest-free deposits contributed ETB 2.48 billion.
  • More than 90 percent of the investment portfolio, amounting to ETB 24.88 billion, is invested in government Treasury bills while the remaining ETB 2.36 billion s held in a Mudarabah investment account.
  • EDIF reported generating ETB 4.97 billion in investment income from its portfolio.
  • The Fund provides insurance coverage of up to ETB 100,000 per depositor per member institution across eligible accounts.
  • Approximately 170.96 million depositors, representing 97 percent of all depositors, were fully covered within the ETB 100,000 threshold as of June 30, 2025.
  • Fully insured amounts represented ETB 485.01 billion, or 13.65 percent, of the ETB 3.55 trillion in total deposits across member institutions.
  • Under EDIF reimbursement procedures, a receiver must submit insured depositor records within 14 days of license revocation, repayments must be announced within 14 days of receipt, and disbursements must be finalized within 90 days.
Read the Full Story on The Reporter
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