Abay Bank
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 |
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.
In 2019, the bank build its new headquarter in Lideta district with 827 million birr investment.
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
- ^ "Abay Bank's revenue soars". Addis Fortune. 22 December 2024. Retrieved 16 March 2025.
- ^ "Ethiopian-Abay Bank Partnership Expands Air Ticket Payment Options". Ethiopian Airlines. Retrieved 16 March 2025.
- ^ "Gech internship report". Coursehero.com. Retrieved 16 March 2025.
- ^ "ICT uptake: Ethiopia's Abay Bank shows the way to indigenous African start-ups". AnnualMeetings Daily. Retrieved 16 March 2025.
- ^ "Ethiopia: Abay Bank Maximizes Profits". AllAfrica.com. Archived from the original on 2015-11-29. Retrieved 16 March 2025.
- ^ "Abay Bank Joins HQs Building Race". Addis Fortune. Retrieved 16 March 2025.
- ^ "Abay Bank to build 26 storey HQ in Lideta District, Addis Ababa". AddisBiz.com. 2019-05-08. Retrieved 16 March 2025.
- ^ "Abay Bank Coming Up to Contend". Addis Fortune. Retrieved 16 March 2025.