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[Oct 2017] Bunna International Bank (BIB) Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Bunna International Bank Opens Bid for ATM and POS Purchase

Bunna International Bank S.C. (BIB) has for the first time opened a bid document for the purchase of Automated Teller Machines (ATMs) and ATM cards as well as Point of Sale (PoS) machines.

“We believe it is time for the Bank to integrate such technologies to its service,” said its President, Eshetu Fantaye.

Accordingly, it will have 15 ATMs, 6,000 ATM cards and 100 PoS machines at the end of the purchasing process.

The system will be integrated with ET-Switch system and piloted, Eshetu told Fortune.

The

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The Increasing Foreign Exchange (FOREX) Problem in Ethiopia

One of Addis Abeba’s black markets for hard currency is also one within reach of the several branches of both public and private banks. People walking by are approached by ‘brokers’ and people seek out these exchange centresby foot or car and make their deals inside cars or in stores. When Fortune visited such a place for about half an hour on April 23, 2015, it observed 14 vehicles stopping by for transactions.

For a country that is increasingly constrained by hard currency shortages, with the ever widening balance of trade gaps,

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Eth-Switch to Begin Pilot Trial

The much anticipated Eth-Switch, which is expected to centralize all banks’ online real-time and electronic (CORE) banking solutions, is to commence its pilot project on May 28, 2015.

Banks such as Oromia International Bank S.C (OIB) have been working with us, Bizuneh Bekele, CEO of Eth-Switch told Fortune, but declined to name any of other banks that are engaged in the actual process of integrating their system with Eth-Switch.

The project will have two phases: the first phase is the one that will be launched as a pilot

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Bunna International Bank Sells Shares to Employees with Privileges

Bunna International Bank SC BIB Ethiopia Addis Ababa

Bunna International Bank S.C ((BIB), which made 71.4 million Br profit before tax in the first half of the year, sold shares to its employees in order to keep and motivate them.

The board of directors of the bank, chaired by Marshal Fekeremarkos, approved the request of the management of the bank to sell shares to its

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Bunna Bank Profits 79.9 million Br for 2014 Fiscal Year

Bunna International Bank SC BIB Ethiopia Addis AbabaBunna International Bank SC (BIB) has recorded another year of rising profits, with a profit after tax of 79.9 million Br, up 35pc from the previous year, despite increasing staff and general administration expenses.

According to the report, the growth in total expenses for the year was due to the

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