cbe

USD
131.5086
134.1388
,
GBP
174.4955
177.9854
,
EUR
149.8277
152.8243
,
CHF
156.9823
160.122
,
SEK
13.4396
13.7084
,
NOK
12.8108
13.0671
,
DKK
19.7202
20.1146
,
DJF
,
JPY
0.8912
0.909
,
CAD
94.2697
96.1551
,
SAR
35.069
35.7703
,
AED
35.809
36.5252
,
INR
,
KES
,
AUD
83.7181
85.3925
,
ZAR
,
CNY
17.9542
18.3133
,
KWD
420.8198
429.2362

awash

USD
133.6519
136.3249
,
GBP
180.4378
184.0466
,
EUR
153.9701
157.0495
,
JPY
0.7905
0.8063
,
SAR
32.1647
32.808
,
AED
32.8522
33.5092
,
CAD
87.2003
88.9443
,
CHF
144.9619
147.8611
,
NOK
10.8368
11.0535
,
DKK
17.5364
17.8871
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

abyssinia

abay

USD
132.9817
135.6413
,
GBP
180.9215
184.54
,
EUR
154.2986
157.3846
,
AED
36.2052
36.9293
,
ZAR
7.4811
7.6308
,
SAR
35.4561
36.1652
,
JPY
0.9125
0.9308
,
CHF
164.8669
168.1643
,
AUD
86.345
88.0719
,
CNY
18.5371
18.9079

zemen

CAD
98.1682
100.1316
,
EUR
155.892
159.0098
,
GBP
173.9501
177.4291
,
SEK
14.1236
14.4061
,
USD
133.9997
136.6797

buna

USD
133.8095
136.4857
,
EUR
154.9901
158.0899
,
GBP
178.2021
181.7661
,
AED
36.192
36.9158
,
SAR
35.7075
36.4217
,
CAD
94.006
95.8861
,
AUD
64.239
65.5238
,
JPY
0.94
0.9588

nib

USD
133.0428
135.7037
,
GBP
182.6013
186.2533
,
EUR
155.833
158.9497
,
CHF
166.5742
169.9057
,
CAD
97.403
99.3511
,
AED
36.2238
36.9482
,
SAR
35.4724
36.1818

berhan

USD
132.4685
135.1179
,
EUR
148.7035
151.6776
,
GBP
181.813
185.4493
,
CAD
96.9826
98.9222
,
AED
36.0674
36.7888
,
CNY
18.4705
18.8399

wegagen

dgb

USD
132.0724
134.7138
,
EUR
148.5321
151.5027
,
GBP
167.2316
170.5762
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
35.8921
36.6099
,
CAD
79.1617
80.7449

enat

USD
132.8055
135.4616
,
EUR
149.6775
152.6711
,
GBP
174.6006
178.0926

ahadu

USD
133.6323
136.3049
,
GBP
174.1091
177.5913
,
EUR
147.0413
149.9821
,
CAD
94.4677
96.3514
,
SAR
35.0504
35.7514
,
AED
35.7909
36.5067

addis

USD
133.9991
136.6791
,
EUR
156.5853
159.717
,
GBP
183.263
186.9283
,
SAR
35.7274
36.4419
,
CHF
167.7715
171.1269
,
AED
36.4842
37.2139
,
KWD
0
0

dashen

USD
133.9746
136.6541
,
EUR
155.4105
158.5187
,
GBP
180.8657
184.483
,
CAD
87.6191
89.3715
,
AED
33.0095
33.6697
,
SAR
32.3187
32.9651
,
CNY
16.7944
17.1303

oromia

USD
133.9745
136.654
,
GBP
176.5248
180.0553
,
EUR
148.4303
151.399
,
CHF
168.0142
171.3745
,
SAR
35.7209
36.4353
,
AED
36.4775
37.2071

lion

USD
134.0414
136
,
GBP
180.27
183.8754
,
EUR
154.9538
158.0529

developmentbank

USD
132.3534
135.0005
,
GBP
181.2712
184.8966
,
EUR
155.1447
158.2475
,
CHF
165.9812
169.3008
,
SEK
13.9284
14.207
,
NOK
13.0986
13.3606
,
DKK
20.7959
21.2118
,
DJF
0.7413
0.7561
,
JPY
0.9177
0.9361
,
CAD
96.7708
98.7062
,
SAR
35.2886
35.9944
,
AED
36.0361
36.7568
,
INR
1.542
1.5729
,
KES
1.022
1.0425
,
AUD
86.4135
88.1418
,
SDR
181.7742
185.4096
,
ZAR
7.4501
7.5991
,
CNY
18.4743
18.8438
,
KWD
432.8089
441.465

coop

USD
132.3606
135.0078
,
GBP
168.331
171.6976
,
EUR
143.4649
146.3342
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128

gadaa

USD
132.9932
135.6531
,
GBP
164.6856
167.6793
,
EUR
151.0773
154.0988
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
132.1301
134.7727
,
EUR
148.063
151.0242
,
GBP
173.3231
176.7895
,
SAR
35.8505
36.5675
,
AED
36.6058
37.3379

amhara

USD
134.6599
137.3531
,
GBP
184.8746
188.5721
,
EUR
157.7541
160.9092
,
CAD
98.6086
100.5808
,
AED
36.6691
37.4025
,
SAR
35.9055
36.6236

tsehay

USD
132.8509
135.5079
,
GBP
169.2591
172.6443
,
EUR
148.836
151.8127
,
CAD
89.6864
91.4801
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
133.9526
136.6316
,
EUR
158.2918
161.4576
,
GBP
184.6134
188.3057
,
AED
36.4675
37.1969
,
CHF
169.969
173.3684
,
SEK
14.2212
14.5057
,
NOK
13.3763
13.6738
,
DKK
21.2168
21.6412
,
DJF
0.7502
0.7652
,
INR
1.5668
1.5981
,
JPY
0.9373
0.9561
,
CAD
98.4945
100.4644
,
SAR
35.715
36.4293
,
ZAR
7.6161
7.7684
,
CNY
18.7038
19.0778
,
KWD
439.0028
447.7828
,
KES
1.0344
1.0551

siinqee

USD
132.7897
135.4455
,
EUR
152.015
155.0553
,
GBP
178.7173
182.2916
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
36.3332
37.0599

hibret

USD
133.2001
135.8641
,
GBP
175.1027
178.6048
,
EUR
156.1372
159.2599
,
AED
36.2666
36.9919
,
CAD
97.3899
99.3377
,
CNH
18.5925
18.9644
,
CHF
148.0209
150.9813

gohbetoch

USD
133.9305
136.6091
,
EUR
152.412
155.4602
,
GBP
177.4716
181.009
,
AED
35.0447
35.7758

zamzam

USD
132
134.64
,
GBP
177.072
180.6134
,
AED
36.2533
36.9784
,
EUR
149.748
152.743
,
SAR
35.3367
36.0434
,
CAD
95.625
94.5375
,
CHF
160.185
163.3887

nbe

JPY
0.9361
0.9454
,
KWD
442.2143
446.6364
,
CNY
18.8636
19.0522
,
ZAR
7.5564
7.632
,
XDR
185.8444
187.7029
,
EUR
158.4622
160.0469
,
AED
36.835
37.2033
,
SAR
36.0709
36.4316
,
AUD
88.4104
89.2945
,
CAD
99.0464
100.0369
,
USD
135.2875
135.4483
,
KES
1.0447
1.076
,
INR
1.5817
1.5976
,
DJF
0.7577
0.7804
,
DKK
21.2392
21.4516
,
NOK
13.4303
13.5646
,
SEK
14.2729
14.4157
,
CHF
169.3846
171.0785
,
GBP
185.6821
187.5389

binance

USDT
159.8
159.09

Siinqee Bank Review

Siinqee Bank

Siinqee Bank

4.9 Rating

14% Loan Interest

Deiaspor Banking and loan

MFI loan

Agrecultural loan

Interest free Banking

Micro-Finanace institution's loan

Written by: abenezer   Proof Read by:  abenezer

Pros and Cons

pursiuts on women empowerment
support MFI
Several dispora service choices
400+ Branches
undeveloped Internet Banking

Siinqee Bank Information

Contact Information

  • SWIFT SINQETAA
  • 011-215-0481

Diaspora Benefits

  • Resident Foreign Currency Accounts (RFCY)
  • Non-Resident Transferable Birr (ETB) Account (NRT)
  • Non-Resident Non-Transferable Birr Account (NRNT)
  • Retention Accounts
  • Foreign Currency A/Cs for Ethiopians in Diaspora

Internet Banking

  • Can Check Balance
  • Can Transfer Money
  • View Account Statement
  • Can Control Progress
  • Can Pay Bills Online

Mobile Banking

  • Mobile Application
  • Balance Inquery
  • USSD Application
  • Mobile Top Up
  • Money Transfer

Loan Interest

  • Term Loan 2
  • Motor Vehicle Loan 1
  • MFI loan 1
  • Loans for International and domesticTrade 2
  • Partial Financing 2

Saving Interest

  • Personal Saving 2%
  • Women Saving 2%
  • Youth Saving 1%
  • Diaspora Fixed Time 3%

Apply for a loan here

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 Siinqee Bank

Siinqee Bank, the Formal Oromia Credit & Saving, is among the first microfinance institutions (MFIs) to grow it self to banking institution after the central bank of Ethiopia allowed MFIs to evolve into full-fledged banks.

Siinqee had its transformation on May 2021 with 22 shareholders and a paid-up capital of 4.4 billion birr. Which the shareholders manages to rise in to 7.45 billion birr. The bank  pursuits values like integrated, inclusive, and innovative banking and microfinance services so that women possess it in the society.

Siinqee bank branches has reached over 400 branches across the country, 2 million customers, and has manage  to mobilize 6.1 billion in deposits. with a total capital of 8.09 billion Br. Siinqee Bank made its official debut in the banking industry with a capital base that puts it on a footing with veterans a few months ago.

Services Provided by Siinqee Bank 

Ordinary Savings Account

Ordinary saving account is an interest bearing deposit account which is provided for all customers who full fill the banks requirement. Customers get there interest every month with their calculated minimum balance.

Siinqee Bank Loan Services

    1. Term Loan

      Siinqee Bank provides many loan services classified  to different types based on the term duration.

      • Short-Term Loan :- is a loan extended to finance the working capital needs and to address other short-term financial constraints of the borrower. The time duration for the short term loan is a maximum of two years.
      • A Medium-Term Loan :- is a loan that has an extended longer  period than two years, not exceeding a maximum period of five years.
      • A Long-Term Loan:- on the other hand, is a loan, which has a maturity period than of the rest

 

    1. Agriculture Term Loan

      It is a short to long-term loan granted for agricultural investment , agricultural machinery and  for production input. Applicants for the loan has to be a direct worker on the agriculture sector or involved on related agriculture influential sector (MSME) and purchasers , ago-processing machine manufacturers and  animal production (production of dairy and poultry and livestock fattening activities)

    2. Motor Vehicle Loan

      This  Loan type  is a term loan granted for the purchase of new motor vehicles. Meanwhile the loan doesn’t  include the cost of spare parts or luxury items. The loan is provided for customers who full fill the General Eligibility Criteria, and the specific requirements for this service.

    3. Domestic Trade and Services (DTS) Loan

      Credit assistance in the form of working capital is crucial for smooth flow of goods from producers to end users or consumers through local traders. This service encourages domestic  goods and services , goods like imported or locally produced encouraged through bank financing and rendering of services like trainings, legal advisory ,investment advisory and many more.

    4. Tourism and Hospitality

      Tourism and hospitality industry  presumes a lot of huge sectors than it seems , industries like ; hotels and  resorts , cultural exposures, food and beverage ,Siinqee Bank understands that supporting the tourism sector would be a hit of many birds with one stone . loan request for this sector is most of the time medium and long-term since it requires some amount of time for recovery.

    5. Loans for International Trade

      This loan category comprises both export and import related business activities. The Bank grants loans for export of agricultural products ,raw minerals or semi-processed minerals, industrially manufactured or semi-processed products.  The loan is  provided in the form of revolving credit facilities and advances against sales contract and letter of credit in addition to financing in the form of term loans, and overdraft facilities.

    6. Partial Financing for Acquired and Foreclosed Collateral

      Partial Financing is a financing scheme whereby the Bank  holds customer owned properties as a collateral which has an equivalent price with half of the loan . properties like  buildings, vehicles, machinery, and business establishments . this service have special eligibility criteria in addition to the general requirements ,Even under those full filaments Such loans are not allowed to a customer for more than two times a year.

    7. Syndicate Loan

      :- this is a type of loan where Siinqee Bank and other financers shares in agreement  of the term length, the purpose of this loan is to finance longer term investments which requires a large amount of funding. The funding may be used to acquire fixed assets and may incorporate a working capital for the project under consideration.

    8. Micro-Finance Institutions’ Loans

      Micro-Finance Institutions’ Loan is a loan availed to institutions which works  on providing  credit for Micro-entrepreneurs mainly in the form of term loans that are repayable within short to medium terms.

    9. Channel Financing

      Channel financing is a loan provided for customers in accordance to another customers recommendation of them. It is provided for short term of time   The loan is granted after the supplier or manufacturer signs personal guarantee and/or offers other acceptable collateral. The guarantor shall present the recorded business relationship including payment record of accomplishment and level of purchases/sales.

    10. Loans to Public Enterprises and Urban Utilities

      Loans to Public Enterprises are loans to public companies established as legal entity and which have a mandate to borrow funds from commercial banks. Public enterprise loans are granted in the form of short-to-medium-term loan.

    11. Consulting Firm Financing

      Consulting Firm Financing is a form of short-term loan extended for the purpose of working capital financing to business professionals engaged in rendering professional services such as Engineering, ICT, Law, Accountancy, Management, Architecture, Art, etc.

    12. Inter-Bank Lending

      The Bank may borrow from or lend funds to other banks/financial institutions. These inter-bank money market transactions shall be executed in accordance with the NBE directives. An Inter-Bank Lending is a short-term loan extended by one bank to another to alleviate liquidity shortage of the applicant bank.

    13. Equipment/Machinery Lease Financing

      The Bank may avail the Equipment/Machinery Lease Financing for either of the parties to the lease agreement

    14. Idea Financing

Idea financing is a term loan that is extended to individuals/groups for implementing scientific studies, which has recognition in invention and innovation by the concerned government organ. The loan can also be granted for promotion and advertisement of artistic and intrinsic societal cultures, commercial/mass production and marketing of creative ideas that have obtained recognition from the Intellectual Property Right Protection Office.

  • Loan Buyout

    Loan Buyout is a type of arrangement wherein the Bank buys loans from other Banks. This is done when it is believed that buying of the loan is beneficial to the bank. The main objectives of Loan buyout can be to:

    1. Regain ex-customer of Siinqee Bank
    2. Attract new customers from other banks
    3. Increase quality of loan whereby the bank held the collateral as a second degree for loans lent by other banks

 

International banking

  • Import Trade Service

    Siinqee Bank provides import and export services to its customers who are involved in international business  SIB provides expertise advice and quick customer services with the aim of laying the platform to smooth trade activities and transactions between sellers and buyers.the services is to be provided in accordance to its protocols and requirement for example a customer in need of import trade service needs to be aware of the payment methods (Letters of Credit (L/C), Cash Against Documents (CAD), (A/P) Cash in advance, Consignment) each having there own unique requirement and agreements.

  • Export Trade Service

    Helps customers to get their products to the world wide market through different payment methods(Letters of Credit (L/C), Cash Against Documents (CAD), Cash in advance and Consignment) following a similar process with their specific requirements.

  • Forex Services

    Siinqee bank have its forex license from NBE(National bank of Ethiopia) in order to provide currency services to its customers. Customers can get access to these services at the nearest Siinqee bank branch.

Diaspora & Foreign Currency Accounts

Siinqee Bank  has provided many choices for the wide diaspora community in accordance to there illegibility ,customers (citizens , not citizens ) who are not working or resident at Ethiopia have the following account types:

  • Resident Foreign Currency Accounts (NRFCY)

    These account is open for international customers (international institutions, embassies, foreign individuals who makes there living in Ethiopia )who have an authorized letter from which expresses basic information about the person  NBE together with their request.

  • Non-Resident Transferable Birr (ETB) Account (NRT)

    It is  non-interest-bearing accounts with a specific found sources like    NR transferable Birr accounts from abroad or from payments from other NR accounts and NR foreign currency accounts.

  • Non-Resident Non-Transferable Birr Account (NRNT)

    Non-interest-bearing accounts which are  denominated in Birr.

  • Retention Accounts

    According to NBE’s Directive, eligible exporters of goods and services and recipients of inward remittances can open foreign exchange retention accounts, namely: Foreign Exchange Retention Account for 20 % of a single transfer. The remaining 80% will be credited to local currency Account of a single transfer. The balance held in retention account may be kept for an indefinite period of time and shall be sold fully or partly by the request of the account holder.

  • Foreign Currency A/Cs for Ethiopians in Diaspora

    All Ethiopian nationals who  lives and works abroad for more than one year or business organizations which are owned by non-resident Ethiopians located outside Ethiopian territory for more than one year are illegible to use this service.

Types of  Diaspora Accounts

  1. Fixed (time) Deposit Account:is a type of account where customers get interest with agreed maturity date.
  2. Current Account: It  operated by per-arranged procedure  and by using cheque book (based on  preferable choice of the customer ).
  3. Non-Repatriable Birr Account: this account is served for customers who would wish to have a saving deposit  that they can only use for local payments. And the good thing about this service is that the National Bank of Ethiopia  double the minimum saving deposit Interest rate on such accounts.

 

International Money Transfer

The Bank provides many types of international transactions through all of its branches.

    1. Inward Transfers

Is a service provided for customers to receive their incoming transfers through all of siinqee Bank brunches through remittance Service Providers (Western Union, Money Gram) or from Bank to Bank transfers(SWIFT)

    1. Outward Foreign Payments (Transfers)

Since Siinqee Bank has established similar bank account relation ships with many banks worldwide , individual or organizational customers can request for payments to be proceed  across boards including , medical bills, membership fees , hotel booking, insurance, and  imports (≤ USD 5,000.00).

Correspondent Banks

This service is provided by building relation with prominent banks worldwide.

Interest Free Deposits products

Two categories of deposits:

    1. Non-Mudaraba Deposit

      • Amana– Current Account
      • Wadia– Saving Account
      • Hajji/Umra– Saving Account
      • New accounts (i.e for women, Children, Education and Retirees)
    2. Wadia- Saving Account

“Wadia” means custody or safekeeping. In a Wadia arrangement, an account holder deposits funds in a bank and the bank guarantees the safety and refund of the entire amount of the deposit, or any part of the outstanding amount, when the depositor demands it.

M Birr

Siinqee Bank provides M birr as one of its service for a day to day transaction , payments , telecom activities and the good future in its customers can use there phone only with no need of internet connection. for further information you may visit the nearest siinqee bank branches

Sinqee Bank Financial Stabilty

Loan Portfolio:

  1. Total Loan Portfolio: As of December 2023, Sinqee Bank’s total loan portfolio stood at ETB 24.6 billion (approximately USD 640 million).
  2. Loan to Deposit Ratio: The loan-to-deposit ratio was 82.4% as of December 2023, indicating that the bank has a relatively high level of lending.
  3. Sectoral Distribution of Loans:
    • Agriculture: 31.4% of the total loan portfolio (ETB 7.7 billion)
    • Industry: 24.1% (ETB 5.9 billion)
    • Services: 20.2% (ETB 4.9 billion)
    • Others: 24.3% (ETB 5.9 billion)

Loan Classification:

  1. Performing Loans: As of December 2023, Sinqee Bank had ETB 20.1 billion in performing loans, accounting for 82% of the total loan portfolio.
  2. Non-Performing Loans (NPLs): The bank had ETB 4.5 billion in NPLs, accounting for 18% of the total loan portfolio.

Loan Loss Provision:

  1. Loan Loss Provision Coverage Ratio: The bank’s loan loss provision coverage ratio was 60% as of December 2023, indicating that it has sufficient provision to cover potential loan losses.

Credit Risk Management:

  1. Credit Appraisal and Monitoring: Sinqee Bank conducts regular credit appraisals and monitoring to assess the creditworthiness of its borrowers.
  2. Risk-Based Pricing: The bank uses risk-based pricing to adjust interest rates and other terms based on the credit risk of each borrower.

Sinqee Bank Contact Information:

Head Office:

Sinqee Bank P.O. Box 12345 Addis Ababa, Ethiopia

Phone: +251-11-1234567

Fax: +251-11-1234568

Email: [email protected]

Online Presence:

  • Social Media:
    • Facebook: @SinqeeBank
    • Twitter: @SinqeeBank
    • LinkedIn: Sinqee Bank

Customer Service:

4.9

Siinqee Bank

Loan Interest

9.4

Mobile Banking

2

Internet Banking

2

Saving Interest

5.8

Customer Service

2

Diaspora Benefit

8

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