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Awash Bank Set to Announce ATM Bid Winner
Addis Ababa, Ethiopia -Â Although the banking sector is going through modernization, cost and network issues concern some banks
Awash International Bank is the first private bank to build its own head quarter, a 17 and 18-storey twin tower on Ras Abebe Aregay Street.
In just two weeks Awash International Bank (AIB) will become one of largest owners of Automated Teller Machines (ATMs) in Ethiopia after...
NBE to Undergo Million-Dollar Update
Central Bank awards Afcor contract to update outdated hardware, software and database storage systems.
Addis Ababa, Ethiopia -Â The National Bank of Ethiopia (NBE) is acquiring IBM hardware and database solutions for close to a million dollars from local suppliers Afcor PLC. The two parties inked a deal on Wednesday April 10, 2013.
Looking to update its technology systems, the NBE had set out to replace...
Shares of United Bank sold above Par Value
Berhanu Getaneh, President of United Bank (Photo: AddisFortune.net)
New central bank directive on banks’ paid-up capital has inspired numerous share auctions.
Addis Ababa, Ethiopia -Â United Bank has floated a week long public auction to sell off 18,514 subscribed shares that were not paid for.
The Bank earned 2.9 million Br from the auction two weeks ago, bringing revenues 76pc above the  par value...
Zemen Bank boosts total capital to 400 mln birr
Zemen bank
Addis Ababa, Ethiopia – Zemen Bank announced on Thursday that it had finalized its capital increase for the fiscal year, having sold close to 200 million birr in shares during the two-month period from January 15 to March 15.
The total capital of the bank has now reached 400 million birr, up from near 200 million birr last year. The sale of the Bank’s shares, which was reserved...
Zemen Bank Distances Itself from Access, Holland Car Creditors
Addis Ababa, Ethiopia – Zemen Bank’s management has distanced itself from alleged risky exposures in relations to creditors and depositors that have recently faced financial and management difficulties.
In a statement it issued today, April 4, 2013, Zemen Bank’s management asserted that the Bank has not been damaged in its relationships neither with Holland Car Plc nor Access Real Estate...
Enat Bank Premiers in Style
Addis Ababa, Ethiopia - Enat Bank, the first women’s bank in Ethiopia, was officially launched on Tuesday. Initiated by eleven women and with 7200 shareholders, the bank is set up to serve all, but with a special focus on women.
Meaza Ashenafi, Chairperson of the Board of Directors of the bank, said that 64 percent of the shareholders are women. Meaza also said that the Bank has been launched with...
Central bank’s role at cross roads
National Bank of Ethiopia (NBE)
Addis Ababa, Ethiopia -Â This week, the National Bank of Ethiopia (NBE) has re-written one of its most frequently amended directives; commercial banks’ reserve requirement. As it was at the moment, the directive has seen its sixth amendment, reducing the rate that banks has to keep at NBE to 5 percent.
As the move amounts to a slack in the monetary policy stance...
Amerga bows gracefully out of banking
Amerga Kassa (Photo: EthiopianReporter.com)
By Dawit Taye
Addis Ababa, Ethiopia – Veteran banker and president of Nib International Bank (NIB) Amerga Kassa officially resigned from his post, passing the baton to his deputy, Kibru Fonja.
“I have family matters I need to attend to and I want to rest as well. That is why I have decided to retire. I have dedicated my time and energy to the job...
Ethiopia’s first women’s bank, Enat opens for business
Ethiopia’s first women’s bank plans to commence operations in the next few months in Addis Ababa.
Africa’s first commercial bank founded, run and owned by women started a soft launch in November.
Women have bought around 70% of the more than 7,000 shares sold since 2009 in Ethiopia’s Enat Bank – which means ‘mother’ in Amharic.
Enat plans to start taking its first...
Awash Int’l Bank to Equip All Branches with ATMs
By Yetneberk Tadele
Addis Ababa, Ethiopia - Awash International Bank is buying automatic teller machines (ATMs) for all its branches where there is telecommunications network and supplying Points of Sale (POS) machines to five star hotels and supermarkets.
The bank floated the procurement tender for 100 ATMs and 80 POS after reporting a net profit of 394.4 million Br two weeks ago, amounting to an...
