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Public Financial Enterprises Agency (PFEA), the
government agency in charge of state-owned financial
institutions, organised a two-day seminar in
collaboration with the United Nations Industrial
Development Organisation (UNIDO) for executive
managers and board of directors of state-owned and
private banks.
Veteran British banker Barry Northrop will give a
lecture on credit risk management and credit ratings
on December 10-11, at the Sheraton.
It is the first time that the PFEA, established two
years ago in September 2005, has organised such a
workshop.
"The business of banks is to manage risk," Eyob
Tesfaye (PhD), director general of the Agency told
Fortune. "This is why we focus on risk."
When the agency began operation, its first director
general was Getachew Gebre but after his resignation
in 2006, Neway Gebreab, chief economic advisor to
the Prime Minister, was its acting director until
Prime Minister Meles Zenawi appointed Eyob in July
2007.
PFEA supervises three state-owned banks - Commercial
Bank of Ethiopia (CBE), Development Bank of Ethiopa
(DBE) and Construction and Business Bank (CBB) - and
one insurance company, Ethioipian Insurance
Corporation (EIC).
The banks under the Agency have total assets of 50
billion Br and manage 34 billion Br deposits and 14
billion Br in loans. Their combined capital is 6.5
billion Br.
Executives and board of directors of these three
banks will receive training from the Brit tomorrow
on Monday, while the training for the following day
is reserved for executive management members and
board of directors.
Lectures by Northrop under credit risk management
include nature of risk and nature of banks, credit
grading, portfolio management, credit analysis and
credit grading, portfolio management, credit
analysis and credit policy, and risk management
troubleshooting.
According to an official at the CBE, it is a great
leap forward that the dormant Agency plans to
organise a training for banks on credit risk
management.
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