Abay Bank S.C
When was the Bank Established?
Abay Bank was officially established on July 14, 2010 and started operation on November 4, 2010.
Why is the Bank Named “Abay Bank?”
The Great Abay River is a dramatic spectacle and a symbol of natural strength and grandeur. It is not only a magnificent sight to visit, but also a river with immense potential for our country’s development.This tremendous natural strength similarly explains why we are named Abay.
Where is the Location of Abay Bank’s Head Office?
Jomo Kenyata Avenue, around Bambis, in front of NOC Gas Station, Zequala Complex
What Kinds of Services Does the Bank Offer?
- Customer Account Services (Saving Deposit, Demand Deposit, Fixed Time Deposit, etc),
- Loan Account Services,
- International Banking services,
- Foreign Exchange Services,
- Local and international Money transfer services,
- Children’s Special Saving Account Services,
- Youths’ Special Saving Account Services,
- Women’s Special Saving Account Services,
- Interest Free Banking Services,
- Abay Bedeje – Agent Banking Service,
- Abay Card Banking Services,
- Abay Mobile Banking Services,
- Abay Online – Internet Banking Services.
What Makes Abay Bank Unique from Other Banks?
- Abay Bank serves till 9:00 PM Monday to Saturday;
- Abay Bank provides fast and modern banking services;
- Abay Bank provides consultancy and financial support for entrepreneurs;
- Abay Bank provides professional advice for clients in order they become successful in their business;
- Abay Bank works in partnership with clients on viability of projects.
Does Abay Bank Provide International Money Transfer Services?
Yes, you can use Abay Bank’s swift code, ABAYETAA for international money transfer services. Moreover, Abay Bank is an agent for various international money transfer services such as Western union, MoneyGram, Xpress Money, Trans-Fast, Ria, Dahabshiil, Irmaan and U Remit.
How Many Shareholders Does the Bank Have?
The Bank has more than 3,700 shareholders.
Has the Bank Disbursed Dividend to its Shareholders?
Yes, starting from the 2012 fiscal year
How Much is the Bank Shares Par Value?
One share par value is Birr 1,000.00
How Many Shares Can Someone Purchase (Maximum and Minimum)?
Minimum investment is fifty shares or Birr 50,000.00,
International Banking Services
Abay Bank provides various kinds of international banking services. Major types of international banking services are:
- Export under Letter of Credit,
- Export under Documentary Collections,
- Export under Advance Payment,
- Exports on Consignment Basis.
- Documentary Credit (Import L/C),
- Documentary Collection (Import CAD),
- Imports on Advance Payment (TT).
Foreign Bank Guarantee
- Bid Bond,
- Performance Bond,
- Advance Payment,
Abay Bank has established a relationship with many international renowned correspondent banks.
Foreign Exchange Services
Abay Bank works on buying and selling various kinds of foreign currencies.
In line with our objective of “Banking for All,” we have extended our service to Ethiopian Diaspora that suits their banking needs while they are living and working abroad.
Using Abay Bank Diaspora Banking, you are guaranteed to easily access:
- Diaspora Accounts,
- Credit Facilities:
- Diaspora Mortgage Loan,
- Diaspora Investment Loan.
- Insurance Service (the bank acting as a facilitator),
- Abay Bank’s overseas agents.
Diaspora Mortgage Loan
This service is unique its kind in the sector in which the bank plays as facilitator and arranging the mortgage loan scheme to Diaspora customers to own their dream house by saving any 40% of the cost in foreign currency.