Awash Launches Electronic Outlets

Nov 4 , 2023


[ssba-buttons]

Awash Bank executives inaugurated three virtual branches in Addis Abeba and Adama (Nazareth) cities last week. Most banking services including statement printing, creating an account, cardless transactions and foreign currency exchanges are facilitated through digital branches in Getu Commercial Centre on Africa Avenue and Bisrate Gebreal area. While assistance is provided through video chat with access to call centres, the branches work round the clock. Teshay Shiferaw, President of Awash Bank indicated that two more stations are under construction in the capital with concurrent progress on developing branches located in Jima, Dire Dewa, Hawassa and Arba Minch cities.


Radar

Central Bank, Global Alliance Partner to Enhance Sustainable

The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. G...


Radar

Commercial Bank of Ethiopia Adjusts Loan Interest Rates Amid Market Reforms

Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025. Bank executives cited rising deposit mobilisation costs and the need to align with market standards as key factors influencing the decision, despite successful internal reforms that have reduced operational expenses. Executives noted that these adjustments are crucial for maintaining its competitive edge and ensuring the continued delivery of efficient services to its clientele. ...


Radar

Chemical Corp Posts Substantial Revenue, Profit Growth in 1Q

The state-owned Chemical Industry Corporation recorded a revenue of 2.53 billion Br in the first half of the 2024/2025 financial year. The Corporation reported a profit before tax of over half a billion Birr, which marks a considerable 182.6pc increase compared to the same period last year. Company officials attributed the growth result to enhanced market reach, effective cost-cutting measures, and optimisation of plant capacity utilisation. Year-on-year revenue growth was noted across variou...