Global Bank Ethiopia Review

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Banks Ethiopia gives you the access and information you need to get car loan and house loan services in Ethiopia from the bank of your choice. If you are a non resident and/or a foreigner with origin of Ethiopia looking for these loan services, make sure to visit our diaspora mortgage loan and diaspora vehicle loan pages to acquire a more detailed information.

About Global Bank Ethiopia

Established in August 2012 with a subscribed capital of 267 Million Birr, Global Bank has been raising the bars of the standard and modern bank, with more than 9,000 Shareholders, 10,000 Customers, and a paid-up capital of 138.9 million Birr. Currently, the bank has a total asset exceeding 3,5 Billion Birr.

Services Provided by Global Bank Ethiopia

Deposit

-Saving Account

Children Saving Account

Specifically tailored and made for children between 14 & 18 years old, so they can start their savings habit sooner, as it contains an attractive interest rate.

Requirements

• Filled application by the guardian/parent.
• ID Card of the guardian/parent that is acceptable, renewed, and valid
• The appointment of the guardian must be done by a court decision to ensure authority on minors
• Birth Certificate copy
• Two recent passport size photographs of both the children and guardian/parent

Youth Saving Account

Attractive & high-interest rate. Youngster, who are in the age group between 18 & 24, can utilize long term benefits of this account with a higher interest rate, such as:

• To finance their educational requirements at a higher level, and
• When they start to live independently, they can use the saved money

Target Saving Deposit:

This account is of targets and specifically tailored for special people/events, such as:

• Education Saving Account
• Entrepreneur Saving Deposit
• Vacation and Travel Saving Account
• Wedding Saving Account
• Global Target Deposit

Special Deposit Scheme:

Customers of Global Bank Ethiopa, with the special deposit scheme, are able to: Save for Asset, Upfront Interest Deposit, Golden Age Saving Account

Customers can start saving for their future retirement period to block any financial shortages, as this account has a higher interest rate.

-Current Account

The deposited amount is always available for withdrawal at the request of the customer, as there is no imposed interest payment. Payments authorized are operated via cheques. There are two types of a current account with Global Bank Ethiopia:

1. Premium Current Account
2. Upfront Interest Deposit

-Fixed Deposit

With a pre-agreed upon interest rate, deposits are made for a fixed amount of time. CTD, which is a Certificate of Time Deposit, is to be issued. It shows the amount deposited by the customer, the deadline, and the interest rate; they are all to be used as evidence for both Global Bank Ethiopia and its customer. Prior to the maturity, Global Bank Ethiopia may allow the customer to withdraw the deposited amount, but with advance notice.

Loans & Advances at Global Bank

There two types of mortgage loans, provided by Global Bank:

• Diaspora Mortgage Loan (DML)
• Exporters Mortgage Loan (EML)

To get credits, there are certain documents you must avail of:

• Legal Documents
• TIN “Taxpayer Identification Number” & Tax clearance document
• Renewed trade or investment license
• Marriage certificate
• Principal registration certificate
• Business Documents
• A project feasibility study that proves both the salability and reasonability of the business.
• A business plan
• Provisional or Audited financial statements

The Bank extends credit facility for the following business lines: Global Bank prides itself in providing several and various credit facilities for its customers, such as: Import & Export, Agriculture, Construction, Manufacturing, Advance Against Import Bills, Personal, Transport, Domestic Trade & Service, Overdraft, Merchandise, International Banking

Trade Services

Global Bank has a bundle of services for its customers to easily process and fulfill their international banking needs, such as managing import and export transactions as well as providing advisory services for trade services. There are many services provided by the bank, which include:

• Sales & Purchase of Foreign currency
• Cash against Document (CAD)
• Import & Export Letters of Credit (L/C)
• Foreign Transfer Services, both incoming and outgoing

However, to be approved for trade services by Global Bank, the customer must satisfy certain requirements, such as:

• A Copy of the TIN, (Taxpayer Identification Number) certificate
• An ownership certificate from country of purchase if used vehicles are to be purchased
• Have three copies of the Performances invoice
• An approved purchase order for imports through CAD

Other extra documents might be needed on-demand from governmental bodies, depending on the goods that are to be imported

A Photocopy of a valid trade license for foreign trade, investment, or industry Waiver letter from Ethiopian shipping lines for shipment of C&F delivery terms from ports the carrier calls An insurance certificate Providing a foreign exchange application permit

Remittance & Forex

By following the National Bank of Ethiopia’s directives, international rules, and regulations issued by the International Chamber of Commerce (ICC), and internal policies & procedures Global’s Bank Ethiopia, DGB provides foreign exchange remittance services for both inward and/or outward transfers through SWIFT in partnership with several, well-known remittance service providers, such as WesternUnion, MoneyGram, Dahabshiil, Trans-Fast, Ria, Shift, Xpress Money, WorldRemit,

Global Bank  Mobile Banking(Online service)

Customer can conduct the following using Global Bank’s online portal services:

• Shareholder Login
• Buy Shares
• Get More Shares
• Open Account
• Statement Request
• Forex Currency Request
• Open Forex Account
• Credit Application
• ATM Card Request

Global Bank Brunches

Global bank ethiopia has eligible number of Brunches around at the capital an regional cities.

One can apply to open an account directly on Global Bank website.

Contact Information

Global Bank Ethiopia phone number: +251-115-581-245/17

Global Bank email address: [email protected]

SWIFT: DEGAETAA, Addis Ababa, Ethiopia

Global Bank Head Office: National Tower, Ras Abebe Damtew St, Addis Ababa, Ethiopia