Amhara Bank Celebrates a Milestone with 6b Br Paid-up Capital

Jun 24 , 2023

Amhara Bank celebrated its one-year operation with six billion Br paid-up capital, trailing Awash, Abyssinia and Dashen, the veterans in the industry. It was able to garner 19 billion Br deposits from over a million customers and loan 15 billion Br. Henok Kebede, the bank president, indicated that they were able to integrate 72 branches with a core banking system in 45 days of launching, which he attributed as a milestone. Under his leadership, Amhara Bank has expanded to 260 branches and recruited over 4,500 employees. Amhara Bank celebrated its anniversary at its headquarters around the La Gare area, Addis Abeba’s financial district, with a few of its over 140,000 shareholders. The  Bank, with the moniker “the people’s bank”, has Melaku Fenta as its board chairperson, who is reputable among the business community and credited with reforming Ethiopia’s tax regime, boosting the tax-to-GDP ratio to 12.7pc.