Pros and Cons
Prize linked saving for those with foreign currency
Tight loan policy
Slow customer service
Bunna Bank Information
Buna Bank Exchange Rate
|USD||United States Dollar||41.7358||42.5705|
|GBP||British Pound Sterling||55.3742||56.4817|
|AED||United Arab Emirates Dirham||10.282||10.4876|
Bunna Bank S.C. is among the private banks in Ethiopia which has recently has joined the Banking business of Ethiopia following the ideal monetary improvements saw in the nation.
The Bank has obtained its license from the National Bank of Ethiopia (NBE) on June 25, 2009, in accordance with Licensing & Supervision of Banking Business Proclamation No. 592/2008 and the 1960’s Commercial Code of Ethiopia.
The Bank officially commenced its operation on October 10, 2009 with subscribed & paid-up capital of Birr 308 million and Birr 156 million, respectively. However, the paid-up capital has increased to over Birr 2.1 Billion, and the number of shareholders has increased to over 13,024, which makes it one of the strongest and public based private Banks in Ethiopia.
Services at Bunna Bank
There are many types of saving accounts at Bunna Bank, here are the most common account types
- Saving Account
- Current Account
- Fixed time Account
Bunna Bank has the following lists of international banking services.
Foreign Banking Guarantee
Foreign Exchange Service
Foreign Currency Account
Correspondent Banking Network
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.
These services enable customers to overtime meet future plans and for contingency. This account is designed for the business community, salaried individuals, NGOs and etc
Bunna Gold Checking Account
It is a multi-service interest-bearing current account package
It is recurring deposits account with a cumulative term deposit feature.
Bunna Negotiable Order of Withdrawals
Bunna Money Market
An interest-bearing current account that facilitates the fund transfer process from current account to this special interest-bearing account
Bunna Salary Drawing Account
Bunna Special Purpose Account
Bunna offers different types of loans for legitimate commercial and personal activities. The following loan services Advances, Regular overdraft facility, temporary overdraft facility, Overdrawls On, Regular O/D, Advance on import bills, Merchandise loan, Term loan, Guarantees, and letter of credit facilities.
Acceptable Collaterals include
- Motor Viechles
- Machinery and equipment
- Trade receivable
- Share Certificates
Bunna International Bank Share Company (BIB) runs its operations with modern information technologies for its value-adding customer services. Furthermore, BIB is running different ICT projects to create more convenience for the customers to reach them anytime, anywhere, 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 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.
Bunna Bank has a friendly mobile banking service called MBunna Cash. To get the services simply register at any Bunna Bank’s branch and after registering simply dial at *820# to get the service.
At Bunna Bank ATM machines which are located in multiple places a customer can get these services, Cash Withdrawals, Account Balance Enquiries, Mini-Statements, Card PIN Change
The exchange rate for Bunna Bank and other banks can be found here.
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The Ethiopian Financial Intelligence Center (EFIC) has reported that financial crimes, including illegal financial flows from the country, are caused by management gaps in banks and public service providers.