Top 10 Banks in Ethiopia

Top 10 Ethiopian Banks

February 23, 2023

Ethiopia is Africa’s fastest growing economy, offering investors a variety of opportunities. With a population of over 110 million, the country is one of the most populous countries in Africa. Ethiopia also has a long and established banking history, with many banks having been in operation since the late 19th century. Ethiopia’s banking industry has something for everyone. Boasting a wide variety of commercial banks, credit unions, and other financial institutions, Ethiopia’s banking sector has grown considerably over the years. With this growth comes more opportunities to save and invest your hard-earned money. To ensure you get the most out of any Ethiopian bank, we’ve picked out our top 10 banks in Ethiopia. Let’s dive into what each one has to offer!

Commercial Bank of Ethiopia

Commercial Bank of Ethiopia Building

The Commercial Bank of Ethiopia (CBE) is the largest and oldest bank in Ethiopia, established in 1942. Since its establishment, the Commercial Bank of Ethiopia has grown to become one of the most trusted financial institutions in the country. CBE provides a wide range of banking services, including deposits, withdrawals, foreign currency transactions, and loans. It also offers online banking and mobile banking services. Currently, CBE has more than 37.9 million account holders. Moreover, the bank has more than 1842 branches across Ethiopia, providing convenience to its customers in accessing banking services. Owing to its huge number of account holders and the large number of branches across Ethiopia, the bank’s total assets  reached Birr 1.2 trillion recently.

Awash Bank

Awash Bank logo

Awash Bank is one of the oldest and most well-established banks in Ethiopia, having been founded in 1994. It currently operates over 346 branches across the country, making it one of the most widely accessible Ethiopian banks. Since its embarking, Awash Bank has been able to maintain its growth trend, consistently contributing significantly towards the overall development of the country. Awash Bank is currently working on expanding its reach and enhancing its services by investing heavily in digital banking technologies and improving the customer experience. In addition to branch networks, we provide our customers the convenience of 24/7 service through ATMs, point-of-sale terminals, the internet, mobile, and agency banking.

Dashen Bank

Dashen Bank logo

Dashen Bank is one of the top banks in Ethiopia, offering customers a comprehensive range of banking services. The bank was established in 1995 and now has more than 675 branches, making it a major player in the banking sector in Ethiopia. Furthermore, Dashen is known for introducing innovative products such as mobile banking and various e-banking options. It is the first bank in Ethiopia to provide a full-fledged payment card service as a principal member of AMEX, VISA, MasterCard, and Union Pay.

Wegagen Bank

Wegagen Bank logo

Wegagen Bank is another top choice for Ethiopians when it comes to banking. The bank was established on June 11, 1997.

Bank of Abyssinia

The Bank of Abyssinia logo

The Bank of Abyssinia (BoA) is one of Ethiopia’s oldest and largest commercial banks, having been founded in 1996. BoA offers a variety of services, including loans, deposits, and banking services. Moreover, with its more than 800 branches in all major cities, BoA is the go-to option for banking services in Ethiopia.

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Oromia International Bank

Oromia International Bank logo

Oromia International Bank S.C. is one of the most popular banks in Ethiopia. The bank was established on September 18, 2008. Since its inception, Oromia International Bank S.C has grown to become a leading provider of banking services in Ethiopia.

Hibret Bank

Hibret Bank logo

Hibret Bank is one of the biggest and most reliable banks in Ethiopia. The bank was incorporated as a share company on September 10, 1998.

Nib International Bank

Nib International Bank building

Nib International Bank (NIB) is one of the pioneering banks in Ethiopia. The bank was founded on May 26, 1999. Since then, it has been at the forefront of providing financial services to individuals and businesses in Ethiopia.

Zemen Bank

Zemen Bank bull

Zemen Bank, established in 2008, is another prominent bank in Ethiopia. Although Zemen Bank is relatively new, it has made a major impact in the Ethiopian banking sector. The bank is at the forefront of providing cutting-edge banking services.

  • Founded: 2008
  • Number of branches: N/A
  • Call Center: N/A
  • Telephone: 011-5-53-90-40
  • Email: N/A
  • Swift Code: ZEMEETAA
  • Official Website:

The Cooperative Bank of Oromia

The Cooperative Bank of Oromia logo

The Cooperative Bank of Oromia is another well-known banking institution in Ethiopia that has been providing quality services to its customers since 2005.

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Written by Sophonias Woldu

Sophonias Woldu is an Ethiopian author with an outstanding skill for crafting unique and captivating articles that explore different aspects of life. He had an inquisitive mind from a young age and was always fascinated by the power of language and words. He writes articles about philosophy, theology, his native Ethiopia, and basically anything and everything else. Before embarking on a writing career, he had already begun a successful career in the electromechanical engineering field, having earned his degree from Addis Ababa Science and Technology University. In addition to being a prolific writer, Sophonias is also a public speaker and tech enthusiast who believes in harnessing technology to improve the lives of Ethiopians. Currently, Sophonias writes articles for on a part-time basis.

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