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Bank of Abyssinia

The present-day Bank of Abyssinia was established on February 15, 1996 (90 years to the day after the first but defunct private bank was established in 1906 during Emperor Menelik II) in accordance with 1960 Ethiopian commercial code and the Licensing and Supervision of Banking Business Proclamation No. 84/1994.

BOA started its operation with an authorized and paid up capital of Birr 50 million, and Birr 17.8 million respectively, and with only 131 shareholders and 32 staff.

In two decades since its establishment Bank of Abyssinia has registered a significant growth in paid up capital and total asset. It also attracted many professional staff members, valuable shareholders and large customers from all walks of life. This performance indicates public confidence in the Bank and reliability and satisfaction in its services.

Currently, employing the state-of-art banking technology, the Bank provides excellence domestic, international and special banking services to its esteemed and valuable customers. It also strives to serve all economic and services sectors via its ever increasing branch networks through out the country.

The following are brief statements on the Bank’s Vision, Mission and Values.


To be the bank of choice for customers,employees and shareholders.


To provide customer-focused financial services through competent, motivated employees and modern technology in order to maximize value to all stakeholders.

Core Values

  • Putting customer first
  • Committed to excellence
  • Being honest and accountable
  • Working together as a team
  • Caring for our community

Since its establishment, guided with clear vision, mission and values, BOA has made great strides in business growth and development. Consequently upon this, as of June 30, 2018 the following have been registered.


Authorized and paid up capital of BoA as at 30 June 2018 is Birr 4.24 billion and Birr 2.56 billion, respectively, a total deposit balance of Birr 25.79 Billion and a total loans and advances of Birr 17.99 billion, which in effect enhance the risk absorbing and the lending capacity of the Bank.


BOA has more than 5,825 staffs and 1,012,177 account holders and works with known money transfer agents such as Western Union, Express Money, Ria International, Trans fast , Dahabshiil, MoneyGram,kaah and Ezremit.


Following a strong demand for better service and products from all directions on the one hand, and a ground-breaking development in ICT, on the other, BOA has replaced its in –house IT system with the state-of- the art technology called T24 and started ATM and POS services with Habesha card and mobile banking services. BoA also provides Internet banking services while Agent banking service will be readily available within the near future.


BOA has 2,176 shareholders who are successful businessmen, intellectuals, celebrities, etc.

Branch Networks

Bank of Abyssina, which started banking services with only one branch in 1996, has 331 domestic branch networks, of which 152 branches are in Addis Ababa and the remaining 179 are established in bankable towns all over the country. Most branches work 10 hours a day 6 days a week (starting from 08:00 up to 06:00 PM),while some other work up to 07:00 PM in the evening. All City and Outlying branches are interconnected with state-of-the art ICT. All branches offer both domestic and international banking services.

Bank of Abyssinia still strives to identify bankable area every year and serve valuable customers by expanding its branch networks throughout the country.

In this respect there are more branches on the pipe line to be opened in Addis Ababa and in the regional states this fiscal year.

The major common domestic and international banking products and services that are provided to a wide range of customers of the Bank (private, public, cooperative, International Organizations, UN Agencies and NGOs, etc) include the following;

Domestic Banking Services

  • Accepting all type of deposit with attractive interest rate.
  • Providing term loans overdraft service and advance facilities to all sector of the economy.
  • Issuing domestic letter of guarantees, bonds and etc.
  • Rendering Local money transfer services(Telegraphic/Mail transfer  Blocking, and    Normal/Special clearance)
  • Issuing payment instrument (cash payment order, demand draft, certified cheques, etc)

International Banking Services

  • Import letter of credit
  • Export letter of credit
  • Cash Against Documents (CAD) or IBC
  • Issuing and Accepting foreign letter of guarantees and bonds
  • Foreign Money transfer service: from BOA via foreign draft to foreign banks and from foreign banks to BOA via swift
  • Foreign exchange services: buying and selling foreign currency notes, foreign cheques and traveler cheques.
  • Renders Remittance service of Western Union, Express Money, Ria International,Trans Fast and Dahabshil.

Bank of Abyssinia has also first developed and provides the following peculiar services to its esteemed customers.

  • Special Savings Account – it is an interest earning saving accounts operated by check.
  • Youth–Targeted Savings Program – in this program the Bank jointly with parent or guardian deposits an equal amount of money for the youth concerned. This is designed to enable and motivate gifted and promising youths to go to accredited institutions of higher learning.
  • Gift Certificate– it is a type of account opened when on certain occasions, individuals or organizations deposit some amount of money in the bank in the name of a loved one as a gift.
  • Savings Account Linked with Current Account (SALCA) – It is a service that enables customers to transfer funds from one’s savings account to one’s current account; if and when the customer wants to write cheques at times when his /her current accounts has no sufficient balance.
  • On–Site Service – it is cash payment and collection services that the Bank renders to its customers at their place of work.
  • Safe Deposit Boxes– the service that the Bank provides totally secured and state of the art storage facilities for the valuables and documents of its customers.
  • Mobile Banking Services – The service that customers could get information from the Bank, make various transactions using their mobile phone 24 hours a day. This will greatly save the time and cost and facilitate customers business without visiting the Bank’s branch offices.
  • Card Banking Services – 24 hours branchless banking service for BOA Habesha Card holders (Habesha Gold Card, Habesha Debit Card and Habesha Prepaid Card) using its ATM and POS machines located at various Branches and big Business Centers in Addis Ababa and major regional cities.

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