How many banks are there in Ethiopia?
Ethiopia – Banking SystemsEthiopia – Banking Systems
The Ethiopian banking sector is currently comprised of a central bank (The National Bank of Ethiopia or NBE), one state owned development bank, a government owned commercial bank and sixteen private banks.
Is there any international bank in Ethiopia?
Nine foreign banks are operating a representative office in Ethiopia since 2015. The banks include: European Investment bank, Standard bank, Commerz bank, German bank, KCB bank, Bank of Africa, Ziraat Ban and Export-import Bank of India.
Which bank is profitable in Ethiopia?
For the 2017/2018 budget year, Awash Bank earned 1.96 billion ETB, making it the best private commercial bank in Ethiopia, in terms of profitability. The gross profit of Awash Bank was said to have increased by a whopping 650,000,000 ETB compared to the previous year.
Which private bank is best in Ethiopia?
Most Profitable Ethiopian Private Banks for 2020 / 2019 Fiscal Year
|Rank||Bank||Gross Profit / Earning in ETB|
|1.||Commercial Bank of Ethiopia (CBE) (State Owned)|
|2.||Awash Bank||4.2 billion|
|3.||Dashen Bank||1.79 billion|
|4.||Cooperative Bank of Oromia||1.42 billion|
Which bank is best in Ethiopia?
Top Banks in Ethiopia
- The Top Banks in Ethiopia Include:
- Dashen Bank. Dashen Bank was established in 1995 under the NBE’s National Licensing and Supervision of Banking Business Proclamation 84/1994 and the Commercial Code of Ethiopia 1960. …
- Cooperative Bank of Oromia. …
- Bank of Abyssinia. …
- United Bank. …
- Awash Bank. …
- Zemen Bank. …
- Wegagen Bank.
Which bank pays highest salary in Ethiopia?
The Bank of Abyssinia has claimed the top spot as the Ethiopian bank paying the most to its senior management, though the salary increment for its mid-level staff is rather less flamboyant.
Which bank is first in Ethiopia?
List of banks in Ethiopia
|Bank Name||Year Est.|
|1||Nib International Bank||1999|
|2||Abay Bank S.C.||2010|
|3||Addis International Bank||2011|
|4||Awash International Bank||1994|
How can I open a bank account in Ethiopia?
Ethiopian national/foreigners of Ethiopian origin residing abroad can open the account in person & by post in his/her home.
- Application forms properly filled and signed by the applicant and specimen signature.
- For Ethiopians or foreign nationals of Ethiopian origin individuals, valid passport and/or identification card.
What is the first private bank in Ethiopia?
The first privately owned bank, Addis Ababa Bank share company, was established on Ethiopians initiative and started operation in 1964 with a capital of 2 million in association with National and Grindlay Bank, London which had 40 percent of the total share.
What is the highest interest rate in Ethiopia?
Interest Rate in Ethiopia averaged 5.30 percent from 1995 until 2020, reaching an all time high of 11 percent in December of 1995 and a record low of 3 percent in April of 2002.
What are the types of bank?
The Different Types of Banks
- What Are Financial Institutions? The kinds of institutions that exist in the finance industry run the gamut from central banks to insurance companies and brokerage firms. …
- Central Banks. …
- Retail Banks. …
- Commercial Banks. …
- Shadow Banks. …
- Investment Banks. …
- Cooperative Banks. …
- Credit Unions.
What is the profit of banks?
The major portion of a bank’s profit comes from the fees that it charges for its services and the interest that it earns on its assets. Its major expense is the interest paid on its liabilities. … Because of leverage, banks earn a much larger return on equity than they do on assets.
Which bank pays highest capital?
Mahalaxmi Bikas Bank Limited(MLBL) has the highest paid-up capital of Rs 2.63 arba out of all the nationallevel development banks.
What is Diaspora account Ethiopia?
What is Diaspora Account? It is a deposit account targeted for Ethiopians in Diaspora to open and use foreign currency account at home country. • Individuals and companies can open this account. • This account can serve as collateral to get credit in local currency from domestic.
Which bank is best in 2021?
Axis Bank: Axis Bank is India’s third largest private sector bank, with a vast retail footprint of over 12,000+ ATMs and 4,528 branches across the country.
Best Home Loan Banks in India 2021.
|SBI||6.70 – 6.75%|
|Axis Bank||6.90% – 8.40%|
|Bank of Baroda||6.85 – 7.85%|
|Canara Bank||6.90 – 8.90%|
|Aadhar Home loan||N.A|