BANKS ETHIOPIA
National Bank of Ethiopia
The National Bank of Ethiopia was established in 1963 by proclamation 206 of 1963 and began operation in January 1964. Prior to this proclamation, the Bank used to carry out dual activities, i.e. commercial banking and central banking. The proclamation raised the Bank's capital to Ethiopian dollars 10.0 million and granted broad administrative autonomy and juridical personality. Following the proclamation the National Bank of Ethiopia was entrusted with the following responsibilities.
Commercial Bank of Ethiopia
The Commercial Bank of Ethiopia is the largest bank in Ethiopia, accounting for perhaps somewhere between 70% and 90% of the commercial banking market. The bank has 191 branches scattered over the main cities and towns including 45 branches in Addis Ababa. The Bank recently opened new branches in the tourist towns of Lalibela and Sofoumer. The bank had one branch in Djibouti, which ceased operation recently.
Construction And Business Bank
CBB's mission is to render long-term loans for residential and commercial buildings, medium and short-term loans and all other domestic and international banking services by deploying honest and motivated staff and employing state-of-the-art technologies and thereby meet the interest of all stakeholders.
Wegagen Bank
The Bank offers full-fledged domestic banking services: mobilizing deposits, providing varieties of credit facilities; and international banking services: letter of credit services, conducting foreign exchange facilities and local and international money transfer services.
Access Bank
The Bank (under formation) is a Share Company under formation in terms of the Ethiopian Commercial Code (1960). The Bank’s name is reserved at the Registrar of Companies as “ACCESS BANK (SHARE COMPANY)”. Its registered headquarters is at Wollo Sefer/ Kirkos sub-city, Kebele 02, House 177, Addis Ababa. Its postal address is P.O. Box 28119, Code 1000, Addis Ababa, Ethiopia.
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