FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo

Yilkal Kefale (PhD) (second from left), president of the Amhara Regional State; Agegnehu Teshager (third from left), speaker of the House of Federation; and Yinager Dessie (PhD) (centre), governor of the central bank, were pleased as they were given a tour of the upmarket new skyscraper in Le Gare, the central business district of Addis Abeba. It was the official launching of Amhara Bank S.C., of which Henok Kebede (far right) and Melaku Fenta (far left) are the founding president and board chairperson, respectively. On the same day, the Bank also inaugurated its headquarters on Ras Mekonnen Avenue.


It was a day full of activities for the Bank that had been under formation since 2019. The Bank’s entry into the industry is unusual. Having mobilised 4.8 billion Br in paid-up capital, close to the central bank’s minimum threshold of five billion Br, Amhara Bank has arrived at a milestone that existing banks struggle with, some may never reach. The capital was mobilised from 180,000 subscribers, a shareholder base larger than any other bank in the industry. Its subscribed capital is over 6.5 billion Br. Amhara Bank has also launched its operations with 70 branches across the country, most of them in Addis Abeba and the Amhara Regional State. It is a big-bang entry into the banking industry, in sharp contrast to a single branch strategy Zemen Bank had followed a decade and a half ago.


The Bank’s founding management will have their work cut out for them. They must contend with an industry that has become increasingly crowded over the past few years as several banks joined, a slowing economy, and an unpredictable regulatory environment.



PUBLISHED ON Jun 18,2022 [ VOL 23 , NO 1155]

How useful was this post?

Click on a star to rate it!

Average rating 3 / 5. Vote count: 6

No votes so far! Be the first to rate this post.



Related Posts

[ssba-buttons]

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.

Editors' Pick

Exclusive Interviews

State Enterprises from Oracles to Apprentices

Dec 22 , 2024 . By TIZITA SHEWAFERAW

Charged with transforming colossal state-owned enterprises into modern and competitiv...

Agenda

Rising Costs, Inflation Threaten Insurance Industry

Aug 18 , 2024 . By AKSAH ITALO

Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...

Agenda

BREWING DISCONTENT

Jul 28 , 2024 . By TIZITA SHEWAFERAW

Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...

Fortune News

Electric Vehicle Push Leaves Investors in the Lurch

Jul 13 , 2024 . By AKSAH ITALO

Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...

Commentaries

The World Needs a New Economics of Water

As African leaders gather in Cape Town for the African Water Investment Summit, there...

Climate Resilience Is a Strategic Investment

For emerging markets and developing economies (EMDEs), investing in resilience is not...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Capital Market Ambitions Face Credibility Test Over Conflicted Oversight

Aug 16 , 2025

A decade ago, a case in the United States (US) jolted Wall Street. An ambulance opera...

Squeesing Stones for Silver, the State Pulls While Taxpayers May Duck

Aug 9 , 2025

In the 14th Century, the Egyptian scholar Ibn Khaldun drew a neat curve in the sand....

Saplings Should Not Be Rushed Like Election Rallies

Aug 2 , 2025

At daybreak on Thursday last week, July 31, 2025, hundreds of thousands of Ethiop...

Teaching Hospitals Shoulder the Burden While Administrators Count the Beans

Jul 26 , 2025

Teaching hospitals everywhere juggle three jobs at once: teaching, curing, and discov...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

When Trust Becomes a Thief's Weapon

In recent months, I've spoken to several contacts who fell victim to a troubling online scam—one that hijacks personal...

The Unseen Labour of Love

Every morning, my husband Mike gently wakes me for prayer. After we share that quiet moment, he says, "You should rest more before our daugh...

Life Matters

A Day at the Tax Office

I have reached a conclusion: many people struggle to sit quietly and let public servants do their work. Instead, interruptions occur every...

Charity in the Rearview

A few days ago, I boarded a crowded taxi where a simple act of charity sparked a spirited debate. A woman handed money to a Syrian refugee,...