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

abyssinia

USD
132.2414
134.8862
,
GBP
174.5586
178.0498
,
EUR
149.7776
152.7732
,
AED
36.0105
36.7307
,
CHF
161.9216
165.16
,
SEK
13.8845
14.1622
,
NOK
13.175
13.4385
,
CAD
96.8518
98.7888
,
SAR
35.2597
35.9649
,
CNY
18.416
18.7843

abay

USD
132.2453
134.8902
,
GBP
179.7874
183.3832
,
EUR
153.4442
156.5131
,
AED
36.0067
36.7268
,
ZAR
7.4337
7.5824
,
SAR
35.2504
35.9554
,
JPY
0.922
0.9404
,
CHF
162.8636
166.1209
,
AUD
86.1842
87.9079
,
CNY
18.4275
18.7961

zemen

CAD
97.0856
99.0273
,
EUR
148.7501
151.7251
,
GBP
173.9501
177.4291
,
SEK
13.9393
14.2181
,
USD
132.3774
135.0249

buna

USD
132.2524
134.8974
,
EUR
148.7074
151.6815
,
GBP
173.5644
177.0357
,
AED
35.7075
36.4217
,
SAR
34.1012
34.7832
,
CAD
89.1012
90.8832
,
AUD
64.239
65.5238
,
JPY
0.8603
0.8775

nib

USD
131.9869
134.6267
,
GBP
178.084
181.6457
,
EUR
149.696
152.6899
,
CHF
160.023
163.2234
,
CAD
95.6878
97.6015
,
AED
35.9349
36.6536
,
SAR
35.1881
35.8918

berhan

USD
132.3117
134.9579
,
EUR
153.5213
156.5917
,
GBP
179.8778
183.4753
,
CAD
97.0454
98.9863
,
AED
36.0247
36.7452
,
CNY
18.4368
18.8055

wegagen

USD
132.3285
134.9751
,
GBP
179.5831
183.1749
,
EUR
152.8263
155.8828
,
CHF
163.0816
166.3433
,
SEK
13.9474
14.2265
,
CNY
18.4201
18.7885
,
JPY
0.9131
0.9313
,
AED
36.0331
36.7537

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
131.9999
134.6398
,
EUR
149.5378
152.5286
,
GBP
173.5986
177.0706

ahadu

USD
132.2603
134.95
,
GBP
174.1091
177.5913
,
EUR
147.0413
149.9821
,
CAD
58.8603
61.8033
,
SAR
21.7111
22.7967
,
AED
22.1751
23.2839

addis

USD
132.4603
135.1095
,
EUR
149.9121
152.9103
,
GBP
176.8196
180.356
,
SAR
35.3171
36.0234
,
CHF
160.7918
164.0077
,
AED
36.0632
36.7845
,
KWD
0
0

dashen

USD
131.8746
134.5121
,
EUR
146.3808
149.3084
,
GBP
169.7623
173.1576
,
CAD
86.2457
87.9706
,
AED
32.4921
33.1419
,
SAR
31.8121
32.4484
,
CNY
16.5312
16.8618

oromia

USD
132.3112
134.9574
,
GBP
174.3332
177.8199
,
EUR
146.5876
149.5193
,
CHF
162.9448
166.2037
,
SAR
35.2679
35.9733
,
AED
36.0246
36.7451

lion

USD
132.335
134.9817
,
GBP
174.6382
178.131
,
EUR
150.0776
153.0792

developmentbank

USD
131.8409
134.4777
,
GBP
177.5897
181.1415
,
EUR
150.4173
153.4256
,
CHF
160.0399
163.2407
,
SEK
13.7121
13.9864
,
NOK
13.0176
13.2779
,
DKK
20.1659
20.5693
,
DJF
0.7384
0.7532
,
JPY
0.9076
0.9258
,
CAD
96.3397
98.2665
,
SAR
35.1519
35.855
,
AED
35.8946
36.6125
,
INR
1.5425
1.5734
,
KES
1.0189
1.0392
,
AUD
85.8021
87.5181
,
SDR
179.4355
183.0242
,
ZAR
7.4483
7.5973
,
CNY
18.3456
18.7125
,
KWD
430.3287
438.9353

coop

USD
131.8606
134.4978
,
GBP
168.331
171.6976
,
EUR
143.4649
146.3342
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128

gadaa

USD
132.3432
134.9901
,
GBP
164.0356
167.3163
,
EUR
150.4273
153.4358
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
132.1012
134.7432
,
EUR
148.0274
150.988
,
GBP
173.2815
176.7471
,
SAR
35.8419
36.5587
,
AED
36.597
37.329

amhara

USD
132.998
135.658
,
GBP
179.7069
183.301
,
EUR
152.0832
155.1249
,
CAD
97.1923
99.1362
,
AED
36.2156
36.9399
,
SAR
35.4624
36.1716

tsehay

USD
131.5382
134.169
,
GBP
169.2591
172.6443
,
EUR
147.856
150.8131
,
CAD
89.6864
91.4801
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
132.2392
134.8839
,
EUR
153.4371
156.5058
,
GBP
179.7791
183.3747
,
AED
36.005
36.7251
,
CHF
162.8561
166.1132
,
SEK
14.0065
14.2866
,
NOK
13.2585
13.5237
,
DKK
20.5692
20.9805
,
DJF
0.7406
0.7554
,
INR
1.546
1.5769
,
JPY
0.9219
0.9404
,
CAD
96.9922
98.932
,
SAR
35.2487
35.9537
,
ZAR
7.4334
7.5821
,
CNY
18.4267
18.7952
,
KWD
432.2766
440.9221
,
KES
1.0219
1.0424

siinqee

USD
132.0996
134.7416
,
EUR
150.5593
153.5705
,
GBP
178.7073
182.2814
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
36.3332
37.0599

hibret

USD
132.2
134.844
,
EUR
149.0078
151.988
,
GBP
171.2119
174.6361
,
CHF
148.0209
150.9813

gohbetoch

USD
132.2305
134.8751
,
EUR
148.8552
151.8323
,
GBP
174.4931
177.9078
,
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
0.9296
0.9389
,
KWD
437.0664
441.4371
,
CNY
18.6464
18.8329
,
ZAR
7.5052
7.5802
,
XDR
182.3467
184.1702
,
EUR
152.6013
154.1273
,
AED
36.4948
36.8597
,
SAR
35.7387
36.0961
,
AUD
86.7833
87.6511
,
CAD
97.746
98.7235
,
USD
134.0489
134.1149
,
KES
1.0351
1.0662
,
INR
1.5601
1.5757
,
DJF
0.7508
0.7733
,
DKK
20.4614
20.666
,
NOK
13.2437
13.3762
,
SEK
13.9438
14.0833
,
CHF
162.7597
164.3873
,
GBP
181.2877
183.1006

binance

USDT
157.15
156.64

Zemen Bank Review

Zemen Bank

Zemen Bank

7.7 Rating

16% Loan Interest

Customer Focused

Professional

Daily Interest Rate

Pre Paid Cards

Debit card linked with Zemen Account

Written by: abenezer   Proof Read by:  abenezer

Pros and Cons

Modern Banking Service
Financial Advisory Services
Door Step Banking
Higher Initial Deposit
Don't update transaction rate on there website

Zemen Bank Information

Contact Information

  • SWIFT ZEMEETAA
  • +251-11-5-53-90-40
  • 1212
  • +251-11-5-54-00-51

Diaspora Benefits

  • Investment Loan
  • Automobile Loan
  • Mortgage Loan
  • Consumer Loan
  • Optional Diaspora Saving Accounts

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

  • Personal Automobile Loan 15.5
  • Diaspora Mortgage Loan 8.5
  • Corporate Loan 15.5
  • Investment Loan 15.5
  • Working Capital Loan 15.5

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.

Zemen Bank Exchange Rate

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

code buying selling Difference
Flag of CAD

CAD

($)

97.08
99.02

± 1.94

Flag of EUR

EUR

(€)

148.75
151.72

± 2.97

Flag of GBP

GBP

(£)

173.95
177.42

± 3.47

Flag of SEK

SEK

(kr)

13.93
14.21

± 0.27

Flag of USD

USD

($)

132.37
135.02

± 2.64

About Zemen Bank

Zemen bank started with a vision to be “Ethiopia’s five-star bank” in October 2008. Zemen Bank withstands carefully by the laws and guidelines of the ward where it works and watches the rules and rules gave by administrative specialists of the Federal Republic of Ethiopia. It additionally holds its corporate administration framework under consistent audit to guarantee that it is in accordance with global and neighborhood best practices.

Services Provided at Zemen Bank

Personal Saving

This account category lets a customer open an account with an initial deposit of ETB 5000. Customers with this account get basic banking services such as online banking, ATM, and SMS services. An account in this category earns 7 percent interest per day.

Personal Banking

Personal Banking is the level of banking services available to all Zemen Bank clients. Upon opening an account, all new customers receive a debit card and are provided with immediate access to our high-tech multi-channel banking services including ATMs, Internet Banking, Call Center Banking, and SMS Banking.

Prestige Banking

This type of Banking is for customers who secure a minimum monthly balance of  ETB 100,000 are allocated a Personal Banking Representative. This representative will handle all customer transaction and banking needs in private backed with Zemen information technology system.

Z-Club Banking

Zemen Bank Z-club banking service is the highest baking service offered to priority customers. To be eligible for Z-club banking a person shall maintain a minimum monthly balance of ETB 500,000. Zemen Bank will allocate a specialist Personal Banking representative backed by a team of specialist advisers to help all financial need and banking advice.  The account brings preferential rates, bank charge waivers, and negotiated loans, backed by world-class technology, to make it easier and totally informed at all times.

Personal Checking

The initial deposit required to open a Personal Checking account is ETB 5,000. An average daily balance of birr 25,000 is required to offset the fee of birr 250. It is a non-interest bearing account. There is a grace period of ten days to build up the balance to the required amount.

Prestige Checking

The initial deposit required to open this account is birr 5,000. An average daily balance of birr 100,000 is required to offset the fee of birr 500. It is an interest-bearing account. There is a grace period of ten days to build up the balance to the required amount.

Z-Club Checking

The initial deposit required to open this account is birr 5,000. An average daily balance of birr 500,000 is required to off-set the fee of birr 750. It is an interest-bearing account. There is a grace period of ten days to build up the balance to the required amount. Under this account, the interest rate earned is higher than the person checking.

Loans

Zemen Bank’s loan program is programmed to help customers fulfill their dreams of buying a house or a car through a fixed period of time. It offers long term loan repayments up to 5 years for a new car and 7 years for a house.

  • Car Loan
    • Deposit 20% of the price of a new car
    • Save another 20% over a period of six or twelve months period
    • Get a loan of 60% of the car price
    • Get an extended loan repayment period of Five Years
  • House Loan
    • Deposit 20% of the price of a House
    •  Save another 20% over a period of six or twelve months period
    • Get a loan of 60% of the House price
    • Get an extended loan repayment period of Seven Years

Certificate of Deposit

Certificate of Deposit (CDs) is a tool for managing money when a customer is able to set aside funds for a period of time. Zemen Bank strives to offer the best CD rate to its customers.

With a CD, one can maximize his/her own interest rate and security. Zemen offers CDs for many terms, some with a minimum investment of just ETB 500,000.

Benefits:

  • CDs typically pay higher interest rates than many other savings products
  • The upfront interest payment is allowed
  • Continuous compounding means interest earned today earns interest tomorrow
  • Interest can be credited to the CD or to a Zemen checking or savings account
  • A Zemen CD can be used as collateral for a Zemen loan with a discounted rate

Import and Export

Zemen Bank’s International Banking Department has customized and products. At Zemen Bank, a customer would find innovative, custom-engineered trade finance products and services that meet customer requirements in import and export.

Zemen Bank offers an Array of letter of credit products such as: Irrevocable and confirmed Letters of credit, standby Letters of Credits for both import and export with excelling service and technology.

Using Zemen Super Trade Services would enable customers to utilize a wide range of trade financing schemes as:

  • Export L/C Financing
    • Export Finance whereby we offer: pre and post-shipment financing
    • Export Guarantee schemes
    • Export Insurance Scheme
  • Import L/C Financing
    • L/C on-Credit: at competitive lines of credits or deposit margins
    • Shipping Guarantee for missing B/L
    • Automated L/C for both Import and Import L/c with electronic processing and advice

Zemen Bank offers its customers with Standard and customized collection services for both import and export needs of its customers. The bank facilitates both Sight and Acceptance collection.

  • Inward Documentary collection: Enables its customers to benefit from efficient processing of import Collection / Cash against Documents at sight.
  • Outward Documentary Collection: Benefits Zemen Bank Customers in timely bill payments for exporters.

Franco Valuta Imports

Zemen Bank offers Franco Valuta import (import with its own source of foreign exchange) services to Embassies, International organizations, donors, and other eligible customer groups.

Zemen Diaspora

Definition: Diaspora accounts are accounts offered to non-residential Ethiopian Nationals working and living outside of Ethiopia for more than one year, non-resident foreign nationals who had been Ethiopian National before, and business entities owned by the above mentioned.

Account Features

With this account, balances are kept in foreign currency. It is also possible to operate this account through cheques or electronic payment modes. Eligible customers can choose to set up the accounts in USD, GBP, or Euros. While an initial cash deposit of $/€/₤ 100 is required, additional funds can be deposited in foreign currency if it has been declared by customs, if funds are returned from travel expense or cheques drawn from non-resident foreign currency and transferable accounts or other Diaspora Accounts.

Diaspora Account holders are also able to transfer funds abroad for payments and settlements or withdraw FX from this account without the pre-approval of Zemen Bank or NBE. In addition, funds may also be used for import purposes if the business is owned by the same individual.

This account will only earn interest if the funds are kept in a fixed time deposit or if it’s non-repatriatable. A minimum requirement of USD 5000 and three months fixed deposit is compulsory.

Digital Banking

ATM Banking

Zemen Bank ATM machines are located all over Addis Ababa and a few cities in Ethiopia. All Zemen Bank customers will have access to ATM Cards which will allow them to withdraw money, transfer money and check balance with ease.

Internet Banking

Zemen Bank’s internet banking is free, easy, fast and secure method of banking which allows customers to access their account 24/7  including Mobile Banking ,Prepaid Cards

Zemen Bank’s mobile banking service is called “Zemen Mobile” and offers the following features:

Features:

  1. Balance Inquiry: Check your account balance, including savings, current, and credit card balances.
  2. Transaction History: View your transaction history, including deposits, withdrawals, and transfers.
  3. Fund Transfer: Send and receive money to/from other Zemen Bank accounts.
  4. Bill Payment: Pay bills and utilities such as electricity, water, and telephone bills.
  5. Airtime Top-up: Recharge mobile airtime for your mobile phone.
  6. Mobile Money Transfer: Send and receive mobile money to/from other mobile money accounts.
  7. Account Opening: Open a new account using the mobile app.
  8. Cardless Withdrawal: Withdraw cash from ATMs using your mobile phone.

Requirements:

  1. Mobile Number: You need to have a valid Ethiopian mobile number.
  2. Zemen Bank Account: You need to have an active Zemen Bank account.
  3. Mobile App: You need to download and install the Zemen Mobile app on your mobile phone.

Fees:

  1. Registration Fee: Birr 20 (one-time registration fee)
  2. Monthly Maintenance Fee: Birr 50 (monthly maintenance fee)
  3. Transaction Fees: Varying fees apply for different transactions (e.g., fund transfer, bill payment)

Security:

  1. Encryption: The app uses end-to-end encryption to ensure secure transactions.
  2. PIN Protection: Your transactions are protected with a PIN code.

Zemen Bank Credit Scores, Worthiness, and Credit History

Credit Risk Profile:

  • Non-Performing Loans (NPLs): As of 2023, Zemen Bank’s NPLs as a percentage of total loans and advances stood at 3.6%, which is below the industry average.
  • Provision Coverage Ratio: Zemen Bank’s provision coverage ratio stood at 85.1% in 2023, indicating that the bank has sufficient provisions to cover potential loan losses.

Credit History:

  • Credit Rating: Zemen Bank has a credit rating of BB+ (Long-term) and B (Short-term) by the Ethiopian Credit Rating Agency (ECRA), indicating a moderate creditworthiness.
  • Credit History Score: The bank’s credit history score, calculated by the NBE, stood at 74.5% in 2023, indicating a relatively good credit history.

Liquidity and Capital Adequacy:

  • Liquidity Ratio: Zemen Bank’s liquidity ratio stood at 44.2% in 2023, indicating that the bank has sufficient liquid assets to meet its short-term obligations.
  • Capital Adequacy Ratio: The bank’s capital adequacy ratio stood at 15.1% in 2023, which is above the regulatory minimum requirement of 10%.

Other Indicators:

  • Return on Equity (ROE): Zemen Bank reported an ROE of 14.2% in 2023, indicating a moderate profitability performance.
  • Return on Assets (ROA): The bank reported an ROA of 2.5% in 2023, indicating a relatively low profitability performance.

Based on these indicators, it can be inferred that Zemen Bank has a moderate creditworthiness and credit history, with a relatively good provision coverage ratio and liquidity ratio. However, its profitability performance is moderate, and its ROA is relatively low.

Banking Fees

Account Opening Fee

  • Individual Savings Account: Birr 250
  • Current Account: Birr 500
  • Business Account: Birr 1,000

ATM Withdrawal Fee

  • Local ATMs: 0.4% of the withdrawal amount (minimum Birr 40, maximum Birr 400)
  • International ATMs: 2.2% of the withdrawal amount (minimum Birr 80, maximum Birr 800)

International Money Transfer Fee

  • Outward transfers: 1.2% of the transfer amount (minimum Birr 80, maximum Birr 800)
  • Inward transfers: 0.4% of the transfer amount (minimum Birr 40, maximum Birr 400)

Credit Card Annual Fee

  • Classic Card: Birr 1,000 per year
  • Gold Card: Birr 2,500 per year
  • Platinum Card: Birr 5,000 per year

Cheque Clearance Fee

  • Cheque deposit: Birr 20
  • Cheque issuance: Birr 50
  • Cheque return: Birr 100

Other Fees

  • Stop Payment Fee: Birr 100
  • Duplicate Statement Fee: Birr 50
  • SMS Alert Service Fee: Birr 20 per month

Important Note The offers and terms listed above are subject to change without notice and may vary depending on your specific account type, account status, and other factors

Financial Reports

here are some key highlights from Zemen Bank’s latest financial report:

Financial Performance:

  • Net Profit: Zemen Bank reported a net profit of Birr 2.1 billion in 2023, an increase of 15.6% compared to the previous year.
  • Total Assets: The bank’s total assets grew by 22.2% to Birr 135.6 billion in 2023.
  • Total Deposits: Deposits increased by 25.5% to Birr 103.8 billion in 2023.
  • Total Loans and Advances: Loans and advances grew by 20.5% to Birr 74.3 billion in 2023.

Asset Quality:

  • Non-Performing Loans (NPLs): Zemen Bank’s NPLs as a percentage of total loans and advances decreased to 3.2% in 2023, from 4.1% in 2022.
  • Provision Coverage Ratio: The bank’s provision coverage ratio stood at 92.1% in 2023, indicating that the bank has sufficient provisions to cover potential loan losses.

Liquidity and Capital Adequacy:

  • Liquidity Ratio: Zemen Bank’s liquidity ratio stood at 44.8% in 2023, indicating that the bank has sufficient liquid assets to meet its short-term obligations.
  • Capital Adequacy Ratio: The bank’s capital adequacy ratio stood at 15.9% in 2023, which is above the regulatory minimum requirement of 10%.

Efficiency and Profitability:

  • Cost-to-Income Ratio: Zemen Bank’s cost-to-income ratio decreased to 63.5% in 2023, from 65.1% in 2022.
  • Return on Equity (ROE): The bank reported an ROE of 16.5% in 2023, indicating a moderate level of profitability.

Contact Information

Toll-free Number: 6500

SWIFT: ZEMEETAA, Addis Ababa, Ethiopia

Zemen Bank Head Office: Ras Abebe Aregay Street, Addis Ababa, Ethiopia

7.7

Zemen Bank

Loan Interest

10

Mobile Banking

10

Internet Banking

10

Saving Interest

5

Customer Service

3.2

Diaspora Benefit

8

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E-Commerce

Simplify Customer Experience

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