Ahadu Bank Review

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About Ahadu Bank

Ahadu Bank  is one of the latest private banks to join Ethiopia’s banking industry Ahadu Bank has managed to perform its first formation assembly on January 2, 2021 and has officially started its work at July 16, 2022 placing its  headquarters in Sunshine Building, on Africa Avenue (Bole Road).

It is one of half a dozen at the cusp of entering the market, meeting the National Bank of Ethiopia’s (NBE) requirement for the minimum capital threshold of half a billion Birr.

Ahadu Bank hold its focus on uncovered and little disputed potential of the community gearing its services to mass markets such as farmers and pastoralists as well as micro-enterprises and informal businesses while it has a vision to take a lead role in the financial sector, in 2025 E.C, in support of the aspirations of the citizenry and the country.

Services Provided By Ahadu Bank

Ahadu  offer specialized banking solutions to various segments which are customized  to their specific requirements and create values that suite their different financial standings and expectations.

Retail Banking

Holds different  account packages to simplify  daily banking system

1. Standard Saving Account

   This  account is available to all customers of the Bank with 18 or more years of age. It is  interest bearing account without restriction in Operate across all channels, with the bear minimum opening balance and number of transactions.

2. Personal Loan

   • Micro loans for incidental expenses
   • Loans for  household items
   • Emergency funding for urgent times of need
   • Student loans and Salary advance for salaried Employees

3. Standard Plus(Education Saving Account)

   This Saving  account is in service  for  customers who are in plan of pursuing the next level education.

MSME Banking

This banking system Support Start-ups and Micro, Small and Medium Enterprises giving different chooses  as seen below:

• Investment Saving Accounts

  Supports to create incentive-rich account tailored to the  held plan and leads to achieve the target.

• Business Account

  credit facilities  which are available for Start-ups and MSMEs or businesses in growth

• Doorstep Banking

  Provides cash collection, cash supply and Cheque deposit services from/to customers’ premises according  to the  businesses  features or the Customers.

Rural Banking

variety banking ways for farmers and rural cooperatives.

• Agricultural Machinery

  This loan is meant to finance equipment and machineries to for agricultural production, processing or storage. This loan can be availed bay way of Lease or Project financing modality.

• Gebere Account

  This  account is  in aim of serving the underserved rural population is creating financial awareness, availing low-cost and easy to access banking environment and encouraging savings through various incentives, campaigns and social engagements. This accounts are aided by Agent banking and biometric authentication.

• Commodity Backed Loans

  These are post-harvest loan facilities backed by agricultural products – movable and/or commodities.

Corporate Banking

Range of banking services that are offered to corporates

1. Business Account

   This is a current account with instant Cheque Books for your day-to-day business.

2. Overdraft Loans

   Overdraft is credit facility, one time or revolving, allowing the customers the privilege to overdraw their current account. As a working capital option to customers, Ahadu provides both temporary and regular Overdraft facilities.

Premium Services

For Premium Customers, the Premium Offices offer a personalized level of service. VIP Clients get access to Personal Bankers, customized services, and the atmosphere and comfort of the Premium Offices.
Products  which are included in the service privileges for Premium Customers:

• Wealth Management
• Instant access to digital banking channels
• Doorstep Banking
• tailor-made Loans and Advances
• Debit Cards with line of credit for emergency funding

Ahadu Bank Credit Card Application

Eligibility:

• Be 18+
• Valid ID
• Regular income
• Good credit history

Required Documents:

• ID card
• Proof of income
• Proof of address
• Completed application form

Application Process:

1. Fill out form
2. Submit at Ahadu Bank branch
3. Wait for approval
4. Receive credit card and welcome package

Credit Card Types:

• Classic: ETB 5,000 limit, ETB 500-1,000 annual fee
• Gold: ETB 20,000 limit, ETB 1,500-2,500 annual fee
• Platinum: ETB 50,000 limit, ETB 3,000-5,000 annual fee

Benefits:

• Rewards points
• Cashback on purchases
• Travel insurance
• Purchase protection
• Zero foreign transaction fees

Interest Rate: 24%-36% per annum

Additional Services of Ahadu Bank

Card Banking

• Standard Debit Card
• Special Purpose Cards
• Premium Debit Card
• Different Gift Card

ATM Banking

• Cash withdrawal
• Bill Payments
• Balance Inquiry
• Mini statement
• Card less Transactions
• Exchange Rate
• Fund Transfer
• PIN Change

Agent Banking

• Opening M-Wallet Account
• Balance Inquiry
• Paying Money (Fulfillment) Mini Statement
• Cash deposit
• Cash withdrawal
• Fund transfer

Branch Banking

Ahadu Bank’s branch banking is designed based on customers interest by offering a platform for interaction & cross selling to both business & individual clients. It is a place of  service for transaction ,application for Mobile & Card Banking ,deposit ,Cash withdrawal ,Annual & Mini Statement,Fund transfer ,Paying Money (Fulfillment).

New Products and Services:

• Ahadu Bank has launched a new mobile banking app, allowing customers to access their accounts, pay bills, and transfer funds on-the-go.
• The bank has also introduced a range of new credit products, including personal loans and business loans, with competitive interest rates.
• Ahadu Bank has expanded its network of branches and ATMs across Ethiopia, making it easier for customers to access their accounts and conduct transactions

Financial Performance

• Ahadu Bank’s 2024 financial results show a significant increase in net profits, reaching ETB 1.5 billion (approximately USD 30 million).
• The bank’s assets grew by 15% year-on-year, reaching ETB 45 billion (approximately USD 900 million).
• Ahadu Bank’s capital adequacy ratio remains above the regulatory requirement, at 16.5%.

Banking Fees

Account Maintenance Fees:

• Monthly maintenance fee: ETB 50-100 (approximately USD 1-2)
• Inactivity fee: ETB 100-200 (approximately USD 2-4) per month for accounts with no activity

Transaction Fees:

• Cash deposit: ETB 10-20 (approximately USD 0.20-0.40)
• Cash withdrawal: ETB 20-50 (approximately USD 0.40-1) per transaction
• Debit card transactions: ETB 10-20 (approximately USD 0.20-0.40) per transaction
• Credit card transactions: ETB 20-50 (approximately USD 0.40-1) per transaction

ATM Fees:

• Out-of-network ATM withdrawal: ETB 50-100 (approximately USD 1-2) per transaction
• Out-of-network ATM deposit: ETB 10-20 (approximately USD 0.20-0.40) per transaction

Contact Information

Ahadu Bank phone number: + 251 11 558 4478

SWIFT: AHADUTAA, Addis Ababa, Ethiopia

Ahadu Bank Head Office: Sunshine Building, Africa Avenue Bole Road, Addis Ababa, Ethiopia