Amhara Bank S.C Latest Ethiopian News


Amhara Bank in dispute with others banks over unpaid interest

Amhara Bank is at loggerheads with 10 banks over repayment of interest on the paid-up capital it has collected.

The dispute arose one and a half years after the Bank officially started selling its shares to the public after coming to terms with 10 commercial banks to create accounts in which investors would deposit the money they would like to invest.

These accounts opened by the bank that has collected over six billion Birr in paid-up capital so far are closed accounts.

Executives argue that they are not obliged to pay interest on closed accounts, while Amhara Bank argues that the interest should be paid.

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Amhara Bank S.C – Phone Numbers, Address and How to buy Shares

Amhara Bank S.C is a new bank under formation which has managed to collect more than 3.9 billion birr & 5 billion birr in paid-up and subscribed capital respectively as of Mar 2020. The minimum number of shares that can be purchased is 10 (10,000 birr minimum price) while the service charge is 5%. Amhara bank project office can be reached at +251 984 716 3..

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Date: Aug 03, 2021
Currency (Code)Buying RateSelling Rate
US DollarUS Dollar(USD)44.407445.2955
Pound SterlingPound Sterling(GBP)61.708562.9427
UAE DirhamUAE Dirham(AED)12.088912.3307
Saudi RiyalSaudi Riyal(SAR)11.840712.0775
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