Global Bank's board has suspended 18 executives, including its president, as an investigation into deposit and liquidity practices expands. Sahilemichael Mekonnen has been named acting president.
Global Bank's Board of Directors suspended 18 executives following a widening probe into the bank's deposit and liquidity practices. President Tesfaye Boru (PhD), who had delegated authority to Corporate Banking Chief Sahilemichael Mekonnen while abroad, was among those suspended.
The board, chaired by Yoseph Getachew, appointed Sahilemichael Mekonnen as acting president. The action was reported on July 25, 2026.
The overhaul affects top management at the bank, with the investigation continuing to examine related practices.