President of Ethiopia’s largest bank found shot dead at home

Jan 26, 2006 (ADDIS ABABA) — The president of Ethiopia’s leading state-owned bank was found shot dead in his home, and investigators suspect that he committed suicide, the police chief said Thursday.

The body of the Commercial Bank of Ethiopia President Gezahegn Yilma was found Wednesday morning, and forensic investigations were underway to determine the circumstances of his death, Police Commissioner Workneh Gebeyehu said.

“The assumption is he shot himself,” Gebeyehu said, adding that the motive was unclear.

The bank, Ethiopia’s oldest and largest, and handles the bulk of the Horn of African nation’s banking business.

In January 2002, the then-president of the bank and 40 other senior officials were charged with granting loans of more than US$105 million (A86 million) to 13 businessmen who did not have the collateral required to support the loans.

They were also charged with giving the businessmen inflated overdraft and withdrawal facilities worth US$84 million (A69 million).

(AP/ST)