Abay Bank Latest Ethiopian News

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Most profitable Ethiopian Private Banks for 2021 / 2020 fiscal year [Estimation]

A number of private banks in Ethiopia have reported their unaudited gross profits for the 2021 / 2020 G.C (2013 E.C) budget year which ended on June 30, 2021 G.C (ሰኔ 2013). We have estimated the profit of the remaining banks by carefully analyzing previous year growth, current year’s performance as well as other key factors. The following table will be adjusted whenever new and verified information is available.

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Abay Bank Launches Digital Payment Platform

Abay Bank, one of the youngest banks in the country, along with Atlas Computer Technology has developed a new payment platform that enables customers to make utility and other payments online through mobile phones.

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Abay Bank grosses 683 million birr profit for 2019 / 2018

Abay Bank has earned 683 million birr gross profit for the year ended June 30, 2019. During this budget year, the total income of the Bank increased to 1.8 billion birr showing 40 percent growth from the previous year while the total assets of the Bank has also increased to 15.1 billion birr.

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Abay Bank to build 26 storey HQ in Lideta District, Addis Ababa

Abay Bank, one of the youngest banks, has joined the race to build the next large bank headquarters with an investment of 827 million Br, following the lead of a host of other private banks.

To be completed in the next four years, Abay’s headquarters will rest on a 1,600Sqm plot in Lideta District. The 26-storey building will have offices, a meeting facility and a parking space that can accommodate up to 150 cars at any given time.

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Abay Bank Earns 189.7ml br After Tax for 2017 /16 Fiscal Year

Abay Bank registers 249 million birr profit before tax which represents 30 percent growth over from the previous year. According to the Bank’s performance report on the fiscal year that ended on June 30, 2017, the Bank’s aggregate deposit has reached birr 6.8 billion for the year.

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Products and Services in Ethiopia

Date: Sep 20, 2021
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)45.898846.8168
EuroEuro(EUR)53.770454.8458
Pound SterlingPound Sterling(GBP)60.086861.2885
UAE DirhamUAE Dirham(AED)11.307611.5338
Saudi RiyalSaudi Riyal(SAR)11.074611.2961
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