Awash Bank, Ethiopia’s pioneering private bank, was established on November 10, 1994 after the downfall of the socialist regime. The Bank was established by 486 founding shareholders with a paid-up capital of Birr 24.2 million and started banking operations on Feb. 13, 1995. Since embarking operation, the Bank has registered remarkable growth. Notwithstanding global and domestic challenges, Awash Bank has exhibited a superior operational and financial performances among private banks operating in Ethiopia. Awash Bank is currently working towards strengthening its capital base, technological capabilities, human resources and customer base.
Our name derives from the Awash River, which is extensively used in Ethiopia for small to large-scale irrigation schemes, hydroelectricity generation and for industrial activities. By that token, the tagline “nurturing like the river” implies Awash Bank’s immense contribution to the country’s socio-economic development. We also serve the population by encouraging the habit of saving, the provision of credit facilities and facilitating efficient and fast payment systems.
One of the core values of our bank is accessibility. We always strive to improve our accessibility by means of different service delivery channels. Currently, we are the most accessible private bank in the country, with a large footprint of extensive branch networks. In addition to branch networks, we provide our customers the convenience of 24/7 service through ATMs, point of sale terminals, internet, mobile and agency banking.
Corporate social responsibility lies at the heart of Awash Bank’s activities since its establishment. The Bank’s intent is to change the socio-economic situation of the communities within which it operates by ploughing back funds to improve education, health and the environmental and social wellbeing of the disadvantaged strata. The positive impact of our activities is clearly indicated in the number of elementary schools built in collaboration with NGOs, the health facilities improved and the trees planted in different parts of the country and the like.
Our success is measured by realization of our organizational goals and the objectives specified in our strategy. In this regard, we have crafted a 10-year strategic roadmap with the theme ‘Transforming AIB: Vision 2025. It has ambitious financial and non-financial targets. Nevertheless, our performance so far indicates that the Bank is on the verge of attaining those targets much before 2025. Awash Bank has recorded above average banking industry growth rates in most key financial performance indicators in the last decade. Indeed, Awash Bank has recorded the fastest growth rate among private banks operating in the country. We owe this impressive achievement to the visionary leadership of our Board of Directors, dedicated management team, committed staff and loyal customers.
Our strategic goals and objectives are based on the aspiration of
“To be the First Choice World Class Bank”
“To provide Innovative, Competitive and Diversified banking services accessible to the society with qualified and committed staff in a profitable and socially responsible manner”
Our Core Values
A – Accessibility
W – Wisdom
A – Accountability
S – Socially Responsible
H – Honesty