has joined the Banking industry of Ethiopia following the favorable economic developments witnessed in the country during the last decade and the incessantly growing need for Financial
Services. The Bank has obtained its license from the National Bank of Ethiopia (NBE) on June 25, 2009, in accordance with Licensing & Supervision of Banking Business Proclamation No. 592/2008 and the 1960s Commercia
l Code of Ethiopia. The Bank officially commenced its operation on October 10, 2009, with subscribed & paid-up capital of Birr 308 million and Birr 156 million, respectively. Moreover, the Bank has more than 13,024 shareholders, which makes it one of the strong and public-based private Banks in Ethiopia.