Abay Bank
Private commercial bank in Ethiopia From Wikipedia, the free encyclopedia
Abay Bank (Amharic: አባይ ባንክ) is a private commercial bank in Ethiopia established in 2010. Named after the Blue Nile River, Abay Bank was established by 4,100 shareholders, expands to more than 500 branches and 7 district offices.[citation needed]
| |
Native name | አባይ ባንክ |
|---|---|
| Company type | Private |
| Industry | Financial |
| Founded | 14 July 2010 |
| Headquarters | Jomo Kenyatta St, , Ethiopia |
Number of locations | 528 (2024) |
Area served | Ethiopia |
Key people | Yehuala Gessesse (CEO) |
| Revenue | 8.4 billion birr (2024) |
| 6.13 billion birr[1] (2022/23) | |
| Website | www |
In 2019, the bank build its new headquarter in Lideta district with 827 million birr investment.[citation needed]
History
Abay Bank was established on 14 July 2010 and began full operation on 3 November 2010.[2][3][4] It is named after Blue Nile River in western Ethiopia. With initial capital of 174.5 million birr and a paid-up capital of 125.8 million birr, it was invested by 4,100 shareholders. Abay Bank office is located in Jomo Kenyatta St, in Addis Ababa, expanding its offices with 500 branches and 7 district offices.[5]
In May 2019, Abay Bank build its 1,600 square kilometers headquarter in Lideta district, with 827 million birr.[6][7] In November 2022, the bank reported registered 1.3 billion birr profit, increased up to 13% growth.[8]
See also
References
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