Zemen Bank Rolls Out Cash Deposit ATMs

May 14 , 2022

Zemen Bank has deployed automated teller machines (ATM) that enable clients to deposit cash. The two machines are installed at the Bank's main branch on Tito Street in the Casanchis and its banking centre on Africa Avenue (Bole Road). The state-owned Commercial Bank of Ethiopia was the first to deploy the technology in late 2019. Zemen netted 953 million Br in profits last year, a 28pc increase from its previous performance. The Bank saw its assets climb 36pc to 25.1 billion Br over the same period. Its paid-up capital stood at 2.75 billion Br at the end of the last financial year, a little over half of the central bank's updated minimum threshold. Zemen's executives are awaiting the finalisation of construction on a 1.2 billion Br, 31-storey headquarters building in Senga Tera, Addis Abeba's financial district. Hibret and Nib banks have already inaugurated their buildings neighbouring Zemen's on Ras Abebe Aregay Street.


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