Debub Global Bank, one of the youngest banks, has launched two new premium branches at a cost of approximately five million Birr. The two branches that were launched at the end of last week will replace the former three branches that were serving as premium branches.

The first branch is located inside Churchill Hotel on Churchill Avenue, and the second one is located in the new Noah Real Estate building next to Alem Cinema on  Africa Avenue. The Bole premium branch occupies around 155Sqm, while the Churchill premium branch rests on 200Sqm of land. Both branches have employed a total of 20 individuals. The branches' soft opening is expected to be held this week.

Debub had previously opened three premium branches located in the Lebu and Bole Medhanialem areas and one in its head office near Stadium.

However, none of these branches operate as a premium banking branch anymore, according to Endalish Woldemichael, director of marketing & resource mobilisation at the Bank, which hired 562 workers over the last fiscal year, bringing its total number of employees to 1,477.

"We weren't able to achieve the customer segmentation we aimed for," said Endalish.

The new branches, which target corporate customers, are equipped with meeting venues for customers and WiFi and an interior layout where customers can receive consultations privately. The interior arrangement, which does not have the usual counters, allows customers to interact with tellers in an open setting while still maintaining their privacy by means of glass partitions.

"We want our customers to feel like they came to a hospitality centre," stated Endalish.

The clients that the Bank classifies as corporate are customers who have large deposits, those who bring in a substantial amount of forex, and those who have a high number of shares.