Embelem of Federal Democratic Republic of Ethiopia Official Portal of Ministry of Finance and Economic Development  
Home Home Page Citizens Citizens Page Government Government Page Business Business Page Donors Donors Page Decrease font Increase font

 Subordinates

 Financial Institutions


Financial Sector

The financial sector in Ethiopia mainly consists of banking system, insurance and micro finance institutions Banks and other financial institutions operating under the public and private sectors render financial services the country. Commercial banking activities have carried out by two state owned banks (Commercial Bank of Ethiopia and Construction and Business Bank (CBB)), eight private commercial banks and one cooperative bank which had a total of 487 branches in the whole country at the end of 2006/07 There are also about 8 banks currently (beginning of 2008) under fanatic There is also one state-owned specialized bank the Development Bank of Ethiopia (DBE) operating with  branches.

Insurance services are performed by nine private and one state-owned insurance company. At the end of 2006/07, these insurance companies were operating 146 branches in the country.

Moreover, there were 28 micro-finance institutions as June 2006/07 and several other savings and co-operatives operating as financial institutions.

All commercial banks offer savings and checking accounts; extend short-term loans; handle foreign enchant transactions; provide mail and cable money trams services; participate in equity investments; provide guarantee services and perform all other commercial banking activities.

The Development Bank of Ethiopia (DBE) extends short, medium and long-term loans for viable development projects, including industrial and agricultural projects. It also provides other banking services, such checking and saving accounts to its clients (borrowers The CBB provides long-term loans for construction plants, schools, acquisition or maintenance of dwellings, and real estate development. In addition, it offers all other commercial banking services to business.

Foreign companies formally registered and operating in Ethiopia are entitled to access domestic credit borrow­ing on the same terms and conditions as Ethiopian companies.
 

Banking and Insurance

Efficient facilities for banking and insurance are available in Ethiopia.
The National Bank of Ethiopia (NBE) is the central bank.

Banks

 

National Bank of Ethiopia

P.O. Box 5550, Addis Ababa, Ethiopia

Telephone: +251-1-517430

Fax: +251-1-514588

Email: nbe.edpc@telecom.net.et, nbe.excd@telecom.net.et

Website: http://www.nbe.gov.et/

 

Awash International Bank
P.O. Box 12638, Addis Ababa, Ethiopia

Telephone: +251-1-614482 / +251-1-614485 / +251-1-612919

Fax:  +251-1-614477

E-mail: awash.bank@telecom.net.et

 

Bank of Abyssinia
P.O. Box 12947, Addis Ababa, Ethiopia

Telephone:  +251-1-514130 / +251-1-530663

Fax:  +251-1-511575

E-mail: abyssinia@telecom.net.et

Website:www.bankofabyssinia.com

 

Commercial Bank of Ethiopia
P.O. Box 255, Addis Ababa, Ethiopia

Telephone: +251-1-515004 or +251-1-515000

Fax: +251-1-514522

E-mail: cbemrk@telecom.net.et

Web site Address: www.combanketh.com

 

Construction and Business Bank
P.O. Box 3480, Addis Ababa, Ethiopia  

Telephone: +251-1-512300

Fax:+251-1-515103

E-mail: cbb@telecom.net.et

 

Dashen Bank Co.
P.O. Box 12752,  Addis Ababa, Ethiopia

Telephone:  +251-1-661380

Fax:  +251-1-653037

E-mail:dashen.bank@telecom.net.et

Website: www.dashenbanksc.com

 

Development Bank of Ethiopia
P.O. Box 1900, Addis Ababa, Ethiopia

Telephone:  +251-1-511188 / +251-1-151526 / +251-1-513120

Fax:  +251-1-511606

E-mail:dbe@telecom.net.et

 

NIB International Bank

P.O. Box 12947 Addis Ababa, Ethiopia  

Telephone:  +251-1-503288/502909/503304

Fax:  +251-1-527213/504349

E-mail:  nibbank@telecom.net.et

 

United Bank
P.O. Box 19963, Addis Ababa, Ethiopia

Telephone:  +251-1-655222 / +251-1-655244

Fax:  +251-1-655243  / +251-1-655244

E-mail: hibretbank@telcom.net.et

 

Wegagen Bank Co.
P.O. Box 1018, Addis Ababa, Ethiopia

Telephone:  +251-1-523800

Fax: +251-1-523520

E-mail:  Wegagen@telecom.net.et

 

 

Insurance Companies

  

Africa Insurance Company
Head Office, P.O. Box 12941, Addis Ababa, Ethiopia

Telephone: +251-1-624579 / +251-1-517861 / +251-1-514617

Fax: +251-1-510376

E-mail: africainsmd@telecom.net.et

 

Awash Insurance Company
Head Office, P.O. Box 12637, Addis Ababa, Ethiopia

Telephone: +251-1-614420 / +251-1-614470

Fax: +251-1-614419

E-mail: aic@telecom.net.et

 

Ethiopian Insurance Corporation
Head Office, P.O. Box 2545, Addis Ababa, Ethiopia

Telephone: +251-1-512400 or +251-1-519077

Fax: +251-1-517499

E-mail: eic.md@telecom.net.et

Web site Address: http://www.eic.com.et/

 

Global Insurance Company
Head Office, P.O. Box 180112, Addis Ababa, Ethiopia
Telephone: +251-1-567400 / +251-1-201551 / +251-1-119685

Fax: +251-1-566200 / +251-1-710800 / +251-1-159352

E-mail: globalinsu@telecom.net.et

 

NIB Insurance Company

Head Office, P.O. Box 285, Addis Ababa, Ethiopia

Telephone:  +251-1-535129 / +251-1-535130 or +251-1-528165

Fax:  +251-1-528193

E-mail: nibinsgm@telecom.net.et

 

National Insurance Company of Ethiopia
P.O. Box 12645, Addis Ababa, Ethiopia
Telephone: +251-1-166417 / +251-1-166425
Fax: +251-1-650660

Email: -

 

Nile Insurance Share Company
P.O. Box 12836, Addis Ababa, Ethiopia
Telephone: +251-1-514329 / +251-1-514512
Fax: +251-1-514592

Email: -

 

NYALA Insurance Company
Head Office, P.O. Box 12753, Addis Ababa, Ethiopia
Telephone: +251-1-626667
Fax: +251-1-626706

E-mail: nisco@telecom.net.et

Web Site: www.nyalainsurance.com

 

United Insurance Company
P.O. Box 1156, Addis Ababa, Ethiopia
Telephone: +251-1-515656
Fax: +251-1-513258

Email: United.insurance@telecom.net.et

 

Universal Insurance Company
P.O. Box 17963, Addis Ababa, Ethiopia
Telephone: +251-1-189255 / +251-1-614237
Fax: +251-1-614238

Email: -

 

© Copyright 2011 Ministry of Finance and Economic Development
Privacy Policy | Terms of Use | Disclaimer |
Accessibility | Customer Charter