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Ethiopia - Bank of Abyssinia and Zemen Bank to Merge
By Groum Abate
High level talks between the boards of the Bank of Abyssinia (BoA) and Zemen Bank about a merger have been going on for the last couple of weeks.
Sources told Capital that the two parties are in negotiations on how to implement the possible merger.
A senior banking official on conditions of anonymity told Capital that the deal could save both banks from failure.
According to this expert, the merger would create a boost to the human resource of the two banks and would solve the problem of shareholder dominance. The banks would also have the advantage of more capital, which is going to be very crucial when the banking sector is opened to foreign companies, added the expert.
Read Complete Story from Capital ...
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