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[2] [3] In 1963, a new banking law allows split into the National and Commercial Bank of Ethiopia. The law included other commercial banks to operate, including foreign banks operated 51% owned by Ethiopians. The biggest of these was the Addis Ababa Bank, owned by 40% owned by British owned Grindlays Bank, and had 26 branches by 1975.
On 15 April 1943, the State Bank of Ethiopia became the central bank and was active until 1963. By the time it ceased operations in 1963, the State Bank of Ethiopia had established 19 domestic branches, a branch in Khartoum, and a transit office in Djibouti. [4] The National Bank of Ethiopia was established in 1963 by Proclamation 206 of 1963 ...
The Bank of Abyssinia (Amharic: አቢሲንያ ባንክ) is a commercial bank and the oldest bank in Ethiopia. It was established in 1905 and inaugurated by Emperor Menelik II on 16 February 1906, becoming the modern bank of Ethiopia. In 1915, the bank was the first to produce banknote with the help of British owned National Bank of Egypt ...
Ethiopia's government has decided to open up the country's banking sector to foreign investors, the prime minister's office said on Saturday, the latest measure aimed at drawing investment from ...
The bank also operates two branches in South Sudan. It is contemplating re-opening a branch in Djibouti, and opening branches in Dubai and Washington, DC, all to serve the Ethiopian diaspora. The bank is pioneer to introduce modern banking to Ethiopia and credited for playing a catalytic role in the economic progress and development of the ...
Ethiopia’s biggest bank says it has recouped nearly 80% of the cash it lost during what it says was a glitch in its system that allowed customers to take out more money than they had in their ...
In July 2000, Wegagen Bank was a pioneer in Ethiopia by introduce a core banking system, thereby managing to network the head office and all branches. Through its core banking system, the bank was able to delivering more efficient services to its customers.
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