Bank of Abyssinia (BOA)

In 1905: The Bank of Abyssinia was founded.

In February 16, 1906: The bank officially became the modern bank of Ethiopia when Emperor Menelik II inaugurated it. It began operations with two branches in Addis Ababa and Harar.

In 1915: The bank started issuing banknotes backed by the British-owned National Bank of Egypt.

During Emperor Haile Selassie's rule: The bank was reestablished and renamed the Bank of Ethiopia.

In 1974: The bank was nationalized by the Derg government and merged with the Commercial Bank of Ethiopia.

February 16, 1996: To commemorate its 90th anniversary, the bank was reestablished as a private share company, retaining its original name and logo.

Vision

Tirelessly Working to achieve our vision To become the leading commercial bank in East Africa by the year 2030..

MISSION

Our mission enables us to drive forward with aim Provide excellent financial services through competent, motivated employees and digital technology in order to maximize value to all stakeholders.

Core Value

1. Customer Satisfaction: We prioritize customer satisfaction by providing high-quality financial services that meet their needs.
2. Integrity: We maintain uniformity and standards in our services across the country, reflecting our commitment to integrity.
3. Teamwork and Collaboration: Our collaborative efforts are essential as we work together to deliver exceptional banking services.
4. Caring for Our Community: We are dedicated to supporting our community through corporate social responsibility initiatives, demonstrating our commitment beyond just financial services.

Ways of Banking

Abyssinia Online

Access your banking needs anytime, anywhere with our secure online platform.

Link to Online Banking: Click Here to Access

Agent Banking

Abyssinia Bank offers agent banking as a model in which financial institutions utilize third-party agents to deliver banking services on their behalf.

You can visit the Bank of Abyssinia Agent Banking page for more specific details on services.

Card Banking

Abyssinia Bank offers several Visa Debit Cards to enhance customer purchasing power and banking convenience:

1.Gold Visa Debit Card

Golden Treatment for Golden Partners

- For key business partners, providing significant purchasing power.

- Daily POS purchase limit: ETB 350,000.

- Daily cash withdrawal limit at branches: up to ETB 150,000 (max 3 withdrawals).

- Daily ATM withdrawal limit: ETB 15,000.

- Card validity: 3 years.

2.Abyssiniameen Visa Debit Card

Abyssiniameen card for interset free Partners

- Designed for interest-free banking partners, allows daily purchases up to ETB 200,000.

- Same features as the Gold Visa card.

3. BoA Classic Visa Debit Card

Loyal Customers, Exceptional Service

- For loyal customers, providing substantial purchasing capabilities with the same limits as the other cards.

All cards have a three-year validity and maximum fund limits equal to the customer’s account balance. Learn More about Abyssinia Bank Card Banking

Mobile Banking

With mobile banking, BoA gets even closer to you and you get closer to your account. BoA offers a safe and secure banking system with the most flexible structure and allows you access to your account from anywhere and everywhere.

For IOS: Download Here

For Android: Download Here

For USSD: Call *815#

Virtual Banking

Bank of Abyssinia introduces the new self-service machine that hosts the service of branch banking through our excellent and friendly virtual tellers from the comfort of any ITM corner.

This service has many benefits some of them are:

1. Availblity24/7: available without any exception
2. User Friendly; the system is simple and understandable
3. Security options; it’s an indoor service like branches
4. Faster service; small queues
5. Personalized convenient face to face transaction service; using video conference
6. Address concerns and questions immediately; any requests are answered at the moment

Branch

Currently abyssinia bank has more than 928 branches and 1429 ATMS

Local Deposit

1. Saving account
2. Current account
3. Fixed time account
4. Muday account
5. Overdraft account

Saving Account

Bank of Abyssinia offers different savings accounts

1) BoA Edir Account:

Designed for groups to mobilize resources long-term, offering higher interest rates and additional benefits for deposits and loans.

2) BoA Iqqub Account:

A savings account for associations, providing higher interest rates and financial transaction facilitation for Iqqubs.

3) Adey (Women’s) Saving Account:

Focused on empowering women, it offers higher interest rates, discounts on services, and special banking privileges.

4) Afla (Youth) Saving Account:

Aimed at youth, promoting a culture of saving with attractive interest rates and reduced costs for debit cards.

5) Accounts for Minors:

A savings account that can be opened for individuals under 18 by parents or guardians, teaching the importance of saving early.

6) Education Saving Account:

Designed for teens aged 14-18 to save for higher education, featuring higher interest rates and scholarship opportunities.

7) Ordinary Saving Account:

A standard savings account with competitive interest rates, available for individuals and corporate entities.

8) Special Saving Account:

An interest-bearing account with a limit on withdrawals, suitable for customers who prefer limited access to their funds.

9) Teen Youth Saving Account:

For individuals aged 14-17 who can generate income, encouraging saving from a young age with attractive interest rates.

10) Wisdom (Senior Citizens) Saving Account:

Aimed at individuals over 50, offering higher interest rates and special benefits for elder citizens.

Each account is designed to meet specific needs and comes with unique benefits to encourage saving and financial growth. For more details, you can visit the Bank of Abyssinia Savings Account page.

Current Account

Bank of Abyssinia offered different current accounts.

1) Ordinary Demand Deposit Account:

A non-interest bearing account that can be used by individuals and businesses. It allows unlimited deposits and withdrawals, and can be operated via cheque, card, mobile, and internet banking.

2) ECX Related Accounts:

Designed for business owners participating in the Ethiopian Commodity Exchange (ECX). This includes:

1. Member Pay-in: Used as a payment guarantee for trading activities.
2. Member Pay-out: For receiving payments from ECX trading.
3. Client Pay-in: Maintained by members on behalf of their clients, only debited per ECX instructions.
4. Client Pay-out: Similar to Client Pay-in, for payments on behalf of clients, with exclusive rights for the member.

These accounts cater to various needs, from personal banking to facilitating trade in the commodity exchange. For more details, you can visit the Bank of Abyssinia Current Account page.

Fixed Time Account

This account is for customers who want to save money for a set period, starting at a minimum of 6 months. It offers a higher interest rate than regular savings accounts, making it a great choice for those looking to earn more on their savings in a shorter time.

Loans

Bank of abyssinia offers different type of loan service

1) Corporate and Commercial Credit Products

2) Consumer and Mortgage

3) Bank Guarantee