Bunna Bank Review

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Bunna Bank Exchange Rate

The exchange rate of Bunna Bank can also be found at our exchange rates page, along with all other banks’ exchange rates in Ethiopia today.

About Buna Bank

Buna Bank S.C. is a private Ethiopian bank that recently entered the market, following the significant monetary progress experienced in the nation. The Bank was granted its license by the National Bank of Ethiopia (NBE) on June 25, 2009. This was done in compliance with both the Licensing & Supervision of Banking Business Proclamation No. 592/2008 and the 1960’s Commercial Code of Ethiopia.

Key Statistics

• Shareholders: More than 14,000
• Years of Operation: Over 16
• Paid Up Capital: Over Birr 5.1 Billion
• Asset Value: 78.3 Billion
• Total Capital: 7.07 Billion
• Branches: 449 across Ethiopia
• Full-time Employees: 3968+

Services at Bunna Bank

Accounts

    Bunna Bank offers a variety of accounts categorized into Retail/Individual, Business, and Interest Free.Retail/Individual Accounts

• Bunna Ordinary Saving Account: Designed to align with general savings goals.
• Investment Saving Account: Tailor-made for maximum returns and growing wealth.
• Minor Saving Account: For children up to 14 years old.
• Teen Youth Saving Account: Helps teens (ages 14-18) learn money skills.
• Youth Saving Account: For individuals or groups aged 18-35.
• Special Purpose Saving Account: For saving towards special moments like holidays or weddings.
• Special Saving Account: Offers tailored financial solutions for individuals, businesses, and organizations.
• Bunna Salary Account: For effortless pay management and smart savings.
• Bunna Current Account: For easy transactions and nationwide access.
• Health Professionals and Teachers’ Savings Account: A specialized account with tailored rewards and savings.
• Student Account: Simplifies finances for students and their support network.
• Taxi/Bajaj/Mid and Maxi Bus/Liquid Transport Account: For transport operators, including a chance to win prizes.
• MUDAY Account: Tailored savings for small traders and organizations.
• Joint Accounts: Can be “And Account” or “And/or Account.”
• Pensioner Account: Provides full-fledged banking services.
  

  Business Accounts

  • Earmarked Account: A savings or demand account opened by businesspeople with an additional description.
  • Fixed Time Deposit Accounts: For periods greater than or equal to 6 months.
  • EQUB Account: Tailored banking for Ekub groups, with higher interest than ordinary savings.
  • IDIR Account: Tailored for IDIR Associations, offering growth and security.
  • School Account: Designed for educational institutions, enabling fee collection via digital platforms.

  Interest Free Accounts (Khadiim)

  • Wadiah Saving Account: For consumers who desire to set aside money for needs or objectives like retirement or education.
  • Wadiah Current Account: Allows customers to perform banking operations using a checkbook.
  • Mudarabah Saving Account: An interest-free partnership where a customer (investor) provides funds to the bank (manager) for investment in a business venture.
  • Mudarabah Fixed Term Deposit: Combines a fixed-term deposit with Islamic Mudarabah principles.
  • Kafalah /Guarantee/: A letter of guarantee facility where the bank promises to pay the beneficiary if the obligor does not fulfill the contract terms.
  • IFB Financing Products: Financial services that comply with Islamic law principles, avoiding interest, uncertainty, and gambling.
  • Hajj Trip with Bunna Khadiim: A specialized service in collaboration with the Ethiopian Islamic Affairs Supreme Council (Mejlis) to facilitate the Hajj pilgrimage.

International Banking

• Foreign Exchange Services: Described as the “safest and smartest way to exchange currencies.”
• Foreign Currency Accounts: Allow customers to open accounts to hold and transact in different currencies.
• International Remittance Operations: Enables money transfers through their trusted agents.
• Correspondence Banking: Focuses on partnerships for mutual benefit.
• Trade Services: Offers fast and reliable service for importers and exporters.

Foreign Currency Accounts
Foreign Currency Accounts (FCY) from Bunna Bank are demand accounts that can be opened by individuals or organizations with an NBE permit, where withdrawals can be made in either Birr or hard currency.

Bunna Bank offers four types of FCY accounts:

• FCY Savings Account
  • Designed for Ethiopian residents who wish to save in foreign currency.
  • Requires a minimal initial deposit of $50.
• Diaspora Account
  • Exclusively for non-resident Ethiopians of Ethiopian origin or nationality with a valid work permit or residence ID abroad.
  • Can be opened as a Current Account (with a $100 initial balance) or as a Fixed Time Deposit (with a $5,000 initial deposit).
• Retention Account
  • Tailored for service-oriented businesses and exporters.
  • Designed for eligible individuals or companies engaged in service exports, employment agencies, and exporters of goods.
  • Ideal for individuals receiving regular inward remittances.
• FCY Savings Account
  • Note: This appears to be listed twice on the source page. Designed for Ethiopian residents seeking to save in foreign currency. Requires a minimal initial deposit of $50.

Forex Services

It has joined the international business connectivity using SWIFT, Western Union, MoneyGram, Xpress Money, Flocash, Juba, Dahabshiil, Trans-Fast, Kaah, Exchange4free, Remitix, Ria, Al Ansari, and other fund transfer technology networks.

Unique Services

These services enable customers to meet plans over time and for contingency. This account is designed for the business community, salaried individuals, NGOs, etc

1. Bunna Gold Checking Account

It is a multi-service interest-bearing current account package

2. Bunna Star

3. Bunna Investment

It is a recurring deposit account with a cumulative term deposit feature.

4. Bunna Negotiable Order of Withdrawals

5. Bunna Money Market

An interest-bearing current account that facilitates the fund transfer process from the current account to this special interest-bearing account

6. Bunna Salary Drawing Account

7. Bunna Special Purpose Account

Loans and Advances 

Bunna Bank offers a variety of credit products and services, adhering to a credit policy that emphasizes the borrower’s ability to meet loan repayments, the business’s viability, financing requirements, and the loan’s purpose and term.

Credit Products and Services

• Term Loans: Short, medium, and long-term loans and advances, with or without a pre-established repayment program, for commercial and non-commercial activities.
• Credit Facilities: Allow customers to draw beyond their deposits or current account balances, subject to approval.
• Syndicated Loans: The bank participates in syndicate financing for customers’ various projects as required by the project or business.
• Partial Financing: Enables customers to acquire fixed assets and facilitates the disposal of the bank’s acquired or foreclosed assets, with or without additional collateral.
• Project/Equity Financing: Provides investment and business loans to new projects and established firms that are financially sound, economically viable, socially friendly, and technologically proven.
• Idea Financing: A term loan extended to individuals or groups for implementing scientific studies with recognized invention and innovation by the concerned government organ.
• New Credit Product Development: The bank continuously revisits its credit products and develops new ones to meet customer segment demands.
• Credit Service Innovation/Innovative Financing: The bank promotes and enhances its services/financing undertakings by combining innovative business models and technology.

The maximum period for any loan shall not exceed 20 years for commercial/business loans and 25 years for consumer and mortgage or real estate loans.

Other Services

Buna International Bank Share Company (BIB) operates using modern information technology to deliver value-added customer services. Furthermore, BIB is running different ICT projects to create more convenience for the customers to reach them anytime, anywhere, on any device. BIB is also working to enhance the infrastructure for organizational, national, and international business connectivity.

BIB’s Core Banking Services, Customer Relationship Management, and straight-through-processing capabilities are powered by Infosys Finacle. BIB has integrated its services with the Ethiopian Automated Transfer System (EATS), National Switch (EthSwitch), Ethiopian Commodity Exchange (ECX), and the Ethiopian Credit Reference Bureau (ECRB).

Bunna Bank has been expanding its branch network and increasing its digital banking services. The bank has also been focusing on increasing its loan disbursements to small and medium-sized enterprises (SMEs) and the agricultural sectors

Electronic Banking

Internet Banking

Bunna Bank has a fast internet banking system called Bunna Net. With Bunna Net, a customer can access the following services: View, download, or print account statements, Start, stop, or amend standing orders in real-time, Transfer cash to another Bunna account in real-time,  Pay utility bills, Make bulk payments, for example, salaries, dividends, loan disbursements, bonuses and supplier payments, Order cheque books and stop cheques.

Mobile Banking

Bunna Bank has a friendly mobile banking service called MBunna Cash. To get the services, simply register at any of this Bank’s branches and after registering, simply dial the Bunna Bank mobile banking code/number at *820# to get the service.

ATM Banking

At Bunna Bank ATMs, which are located in multiple places, a customer can get these services: Cash Withdrawals, Account Balance Enquiries, Mini-Statements, Card PIN Change

Bunna Bank Financial Performance & Credit Risk (2024/25)

1. Financial Performance

Profitability

• Net Profit (after tax): about ETB 1.9 billion for FY 2024/2025.
• Pre-tax Profit: approximately ETB 2.627 billion, representing 182.5% growth compared to the previous fiscal year.
• Earnings per Share (EPS): increased by 146.7% to around ETB 398.65.

This strong growth indicates improved operational efficiency and expansion of lending and banking services.

Assets and Capital

• Total Assets: ETB 65.584 billion, representing 20.3% annual growth.
• Total Capital: around ETB 8.8 billion.
• Paid-up Capital: ETB 5.054 billion.

These indicators show continued expansion and improved capital base.

Deposits and Loan Portfolio

• Total Deposits: approximately ETB 51.2 billion, reflecting 16.7% growth year-on-year.

Deposit growth suggests stronger customer confidence and expanded retail and corporate banking activity.

Credit Risk & Asset Quality

Non-Performing Loan (NPL) Ratio

• NPL Ratio: around 4.09% of the total loan portfolio.

This level is within the acceptable threshold set by the National Bank of Ethiopia, indicating manageable credit risk.

Capital Adequacy & Financial Stability

• Capital-to-Asset Ratio: roughly 13%, demonstrating adequate capital buffers.

Adequate capitalization helps the bank absorb potential loan losses and maintain stability.

Credit Rating / Default Risk

Independent financial analysis suggests:

• Credit Rating: approximately B4 category
• Probability of Default: about 0.636%.

This reflects moderate credit risk with stable financial conditions.

Credit Risk Management Framework

Bunna Bank implements several measures to control credit risk:

• Strict loan appraisal and approval procedures
• Portfolio diversification across sectors
• Continuous credit monitoring and recovery mechanisms
• Compliance with the National Bank of Ethiopia prudential regulations
• Regular risk assessment and internal audit controls
  

These practices help maintain loan portfolio quality and reduce default exposure.

✅ Overall Assessment

Overall, Bunna Bank demonstrates strong financial growth with manageable credit risk levels, supported by improving profitability, deposit expansion, and a stable capital base.

Contact Information

• Contact Center: 8501 (Also listed as a dedicated Contact Center line)
• Head Office Phone: +251-111-580861
• General Phone: 0116-147199 or 0116-146793
• Contact Center Email: [email protected]
• Complaint Email: [email protected]
• Physical Office: GARAD BLD 9TH FLOOR OFFICE NO 903 or 904