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Abyssinia Bank

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Year of Establishment

1996

Current Operational Area (s)

• Oromiyaa

• Amhara

• Addis Ababa

• Diredawa

• Southern Nations and Nationalities Peoples Regional State (SNNPRS)

• Tigray.

Total Number clients served so far

70,000, with the majority of them being urban.

Total Number of Branches Opened so far  13

Loan types:

• Term Loan

• Overdraft facilities

• Letter of Credit Facilities

• Merchandize Loan

• Revolving Credit

• Personal Loan

Loan Term:

• Term Loan: Min  = 6months and Max.  = 7years

• Overdraft facilities:  Min. = 2 months and Max. = 1 year

• Letter of Credit Facilities:  Min. = 3 months and Max. = 6 years

• Merchandize Loan:  Min. = 3 months and Max. = 0.5 year

• Revolving Credit:  Min. = 1 month and Max.  = 0.5 year

• Personal Loan:  Min. = 6 months and Max. = 2 years

Grace Period

Sort-term Loan =  3 months

Medium-term = 6 – 12 months

Real Estate = 6 – 12 months

Lending Rate

• Term Loan:  7 – 13%

• Overdraft facilities:  7 – 10%

• Letter of Credit Facilities:  There is service charge

• Merchandize Loan: 7.5%

• Revolving Credit: 7.5%

• Personal Loan : 13%

Time need to get loan

• Sort-term Loan =  10-15 days

• Medium-term = 15 days

• Real Estate = 10 days

Collateral Requirement

• Sort-term Loan = Building, Cash deposit, Financial guarantee, Vehicles,

• Medium-term = Building and equipment

• Real Estate = Building.

Loan Eligibility Criteria

• Renewed business/trade license;

• Certified or acceptable financial condition

• Past credit history

• Marketability of the product/service

• Profitability and viability of the business.

Business Plan

A borrower is required to present a Business Plan that mainly contains:

• Purpose of the Loan

• Specific objective of the Business

• Market of the Business

• Input and out-puts of the Business

• Financial projections of the Business.

Financing Micro and Small Enterprise Sector Operators

Bank of Abyssinia may extend loans to Micro and Small Entrepreneurs through one or more of the following arrangements:  

• Micro finance institutions where they would channel loan fund to small borrowers;

• The loan contract shall be made between Bank of Abyssinia and a financing organ designated by the Regional State Administration;

Provided that:

(a)  Local or international organizations or NGOs shall guarantee the repayment of the

      loan;

(b)  The loan shall be backed by acceptable collateral.

(c) Savings Products

(d) Other Services

• Youth-targeted financial service;

• Savings account linked with Current account (SALCA);

• Current Account

• Tele-banking;

• Safe deposit box;

• Bureau de change;

• Guarntees.

New Products to be included during the coming 3 to 5 years:

• Bridging loan;

• Probate Advance;

• Bill collection;

• Budget Account.

Service Out-let

The services of the Bank are accessible through its branch offices.

Address 

P.O.Box: 12947 Addis Ababa, Ethiopia

Telephone:  +251-1-514130 /530663

Fax:  +251-1-511575

E-mail: abyssinia@telecom.net.et

Website:  www.bankofabyssinia.com

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