Awash International Bank (
Amharic
Amharic is an Ethio-Semitic language, which is a subgrouping within the Semitic branch of the Afroasiatic languages. It is spoken as a first language by the Amhara people, and also serves as a lingua franca for all other metropolitan populati ...
: አዋሽ ኢንተርናሽናል ባንክ) is a
commercial bank
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit.
It can also refer to a bank or a division of a larger bank that deals with whol ...
in
Ethiopia
Ethiopia, officially the Federal Democratic Republic of Ethiopia, is a landlocked country located in the Horn of Africa region of East Africa. It shares borders with Eritrea to the north, Djibouti to the northeast, Somalia to the east, Ken ...
that was established in 1994 by 486 founding shareholders with a paid-up capital of
birr 24.2 million and started banking operations on 13 February 1995. As of end of June 2020 the number of shareholders and its paid-up capital increased to over 4,369 and Birr 5.87 billion, respectively. Likewise, as of end June 2020, bank's total assets reached Birr 95.6 billion with over 700 branches found across the country, Awash Bank continues to be leading private commercial bank in Ethiopia.
History
Awash International Bank was founded on 10 November 1994 and started operation on 13 February 1995 with 486 shareholders and paid-up capital of 24.2 million birr. It is named after
Awash River
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The Awash River (sometimes spelled Awaash; Oromo language, Oromo: ''Awaash OR Hawaas'', Amharic: ዐዋሽ, Afar language, Afar: ''Hawaash We'ayot'', Somali language, Somali: ''Webiga Dir'', Italian language, Italian: ''Auasc'') is a major river ...
. In 2013/14 fiscal year, the bank gained roughly more than 1.37 billion birr, accounting 40% of the whole private banks.
On 24 November 2014, Awash partnered with Misys FusionBanking Essence, a financial software company, to boost its continual growth and the branching process.
See also
*
List of banks in Ethiopia
References
External links
Official Website
Companies based in Addis Ababa
Banks of Ethiopia
Banks established in 1994
1994 establishments in Ethiopia
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