Tsedey Bank, one of Ethiopia's youngest commercial banks, has appointed Yohannes Ayalew (PhD) as its new president, effective February 9, 2026, pending approval from the National Bank of Ethiopia. The move comes amid the bank's significant 2.13 billion Birr net loss in the 2024/25 fiscal year.
Tsedey Bank, a young player in Ethiopia's commercial banking sector, has named Yohannes Ayalew (PhD) as its new president. The appointment takes effect on February 9, 2026, subject to approval by the National Bank of Ethiopia (NBE).
Yohannes steps in after the resignation of the bank's founding CEO, Mekonnen Yelewumwossen, in January 2026. Since then, Yeshimebet Teffera has served as interim leader. The bank's board of directors, chaired by Derese Hailu, vice president of the Amhara Region, selected Yohannes for his expertise to navigate the institution's financial challenges.
A veteran economist in Ethiopia's financial landscape, Yohannes brings substantial experience. Most recently, as CEO of Amhara Bank, he turned around early losses to deliver a net profit of about 655 million Birr. Prior to that, at the Development Bank of Ethiopia (DBE), he addressed non-performing loans and a liquidity crunch through reforms and new lending approaches, making it one of the country's most profitable state-owned banks.
His nine-year stint at the NBE as vice governor and chief economist gives him insight into monetary policy and regulations. This background should help align Tsedey Bank with NBE guidelines.
Analysts link the bank's 2.13 billion Birr loss in the 2024/25 fiscal year to its shift from micro-lending to full commercial operations, alongside regional unrest and restrictive monetary policies. Observers view Yohannes's role as a targeted effort to stabilize and grow the bank.