cbe

USD
124.0086
126.4888
,
GBP
152.3866
155.4343
,
EUR
128.3365
130.9032
,
CHF
134.1436
136.8265
,
SEK
11.0023
11.2223
,
NOK
10.7134
10.9276
,
DKK
16.8993
17.2373
,
DJF
,
JPY
0.7759
0.7914
,
CAD
84.628
86.3206
,
SAR
33.0073
33.6675
,
AED
33.7659
34.4412
,
INR
,
KES
,
AUD
75.3049
76.811
,
ZAR
,
CNY
16.6728
17.0063
,
KWD
394.889
402.7867

awash

USD
124.9998
127.4998
,
GBP
153.3074
156.3735
,
EUR
135.5371
138.2478
,
JPY
0.7393
0.7541
,
SAR
30.0824
30.684
,
AED
30.7258
31.3403
,
CAD
81.5563
83.1874
,
CHF
135.5787
138.2903
,
NOK
10.1355
10.3382
,
DKK
16.4011
16.7291
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

abyssinia

USD
124.9695
127.4689
,
GBP
155.2371
158.3418
,
EUR
134.6304
137.323
,
AED
34.0275
34.7081
,
CHF
137.9507
140.7097
,
SEK
11.465
11.6943
,
NOK
11.1531
11.3762
,
CAD
87.2631
89.0084
,
SAR
33.3208
33.9872
,
CNY
17.1515
17.4945

abay

USD
125.2046
127.7087
,
GBP
155.9298
159.0484
,
EUR
129.9373
132.5361
,
AED
34.085
34.7667
,
ZAR
6.788
6.9238
,
SAR
33.3817
34.0493
,
JPY
0.8156
0.8319
,
CHF
137.4213
140.1698
,
AUD
78.6034
80.1755
,
CNY
17.13
17.4726

zemen

CAD
87.5705
89.3219
,
EUR
135.439
138.1478
,
GBP
156.3973
159.5252
,
SEK
11.5817
11.8133
,
USD
125.208
127.7122

buna

USD
125.0186
127.519
,
EUR
135.1011
137.8031
,
GBP
153.5302
156.6008
,
AED
33.3801
34.0477
,
SAR
32.6651
33.3184
,
CAD
85.5051
87.2152
,
AUD
64.239
65.5238
,
JPY
0.6597
0.6729

nib

USD
124.6005
127.0925
,
GBP
153.6191
156.6915
,
EUR
129.4954
132.0853
,
CHF
137.0215
139.7619
,
CAD
86.5973
88.3292
,
AED
33.9234
34.6018
,
SAR
33.2113
33.8755

berhan

USD
125.0167
127.517
,
EUR
135.4641
138.1734
,
GBP
157.2925
160.4384
,
CAD
87.1682
88.9116
,
AED
34.0348
34.7155
,
CNY
17.1075
17.4497

wegagen

dgb

USD
124.9495
127.4485
,
EUR
134.7765
137.4721
,
GBP
153.4114
156.4796
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
36.7329
37.4675
,
CAD
79.1617
80.7449

enat

USD
125.3568
127.8639
,
EUR
135.9508
138.6698
,
GBP
155.5562
158.6673

ahadu

USD
125.0001
127.5001
,
GBP
154.3672
157.4545
,
EUR
135.5371
138.2478
,
CAD
58.8603
61.8033
,
SAR
21.7111
22.7967
,
AED
22.1751
23.2839

addis

EUR
135.3703
138.0777
,
GBP
155.388
158.4958
,
USD
125.055
127.5561
,
CHF
137.7713
140.5267
,
JPY
0.7998
0.8158

dashen

USD
125.0915
127.5933
,
EUR
135.6368
138.3496
,
GBP
153.784
156.8597
,
CAD
81.8096
83.4457
,
AED
30.8208
31.4372
,
SAR
30.1758
30.7794
,
CNY
15.6809
15.9945

oromia

USD
125.0562
127.5573
,
GBP
155.745
158.8599
,
EUR
129.8208
132.4173
,
CHF
137.0779
139.8195
,
SAR
33.3465
34.0134
,
AED
34.0456
34.7265

lion

USD
125.0988
127.6008
,
GBP
155.2902
158.396
,
EUR
133.6835
136.3572

developmentbank

USD
124.983
127.4827
,
GBP
154.504
157.5941
,
EUR
128.97
131.5494
,
CHF
136.9977
139.7377
,
SEK
11.446
11.6749
,
NOK
11.1308
11.3534
,
DKK
17.2929
17.6388
,
DJF
0.7
0.714
,
JPY
0.8212
0.8376
,
CAD
87.1447
88.8876
,
SAR
33.327
33.9936
,
AED
34.0256
34.7062
,
INR
1.4392
1.468
,
KES
0.9659
0.9852
,
AUD
78.3893
79.9571
,
SDR
162.8528
166.1099
,
ZAR
6.765
6.9003
,
CNY
17.1029
17.445
,
KWD
404.495
412.5849

coop

USD
124.8894
127.3872
,
GBP
138.0252
140.7857
,
EUR
135.1129
137.8152
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128

gadaa

USD
125.9402
128.459
,
GBP
157.65
160.803
,
EUR
137.1637
139.907
,
AED
30.607
31.2191
,
SAR
29.9522
30.5512
,
CHF
127.1777
129.7213

hijra

USD
126.5
129
,
EUR
133.8
136.5
,
GBP
153.9
157
,
SAR
33.8
34.5
,
AED
34.5
35.2

amhara

USD
124.9
127.398
,
GBP
155.4755
158.585
,
EUR
128.8468
131.4238
,
CAD
86.893
88.6309
,
AED
34.0077
34.6878
,
SAR
33.2756
33.9411

tsehay

USD
125.9729
128.4923
,
GBP
154.0817
157.1634
,
EUR
130.0158
132.6161
,
CAD
86.9537
88.6927
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
125.3753
127.8828
,
EUR
129.3748
131.9623
,
GBP
154.989
158.0888
,
AED
34.1325
34.8151
,
CHF
137.4277
140.1763
,
SEK
11.4819
11.7115
,
NOK
11.1657
11.389
,
DKK
17.3472
17.6942
,
DJF
0.7022
0.7162
,
INR
1.4438
1.4726
,
JPY
0.8238
0.8402
,
CAD
87.4183
89.1667
,
SAR
33.4316
34.1003
,
ZAR
6.7862
6.9219
,
CNY
17.1566
17.4997
,
KWD
405.7647
413.88
,
KES
0.9689
0.9883

siinqee

USD
124.9905
127.4903
,
EUR
137.9979
140.7579
,
GBP
159.6549
162.848
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
32.7831
33.4388

hibret

USD
124.91
127.4082
,
EUR
136.1399
138.8627
,
GBP
153.0143
156.0746
,
CHF
136.9177
139.656

gohbetoch

USD
125.4705
127.9799
,
EUR
129.5533
132.1444
,
GBP
151.1518
154.1748
,
AED
31.0391
31.6599

nbe

JPY
0.8181
0.8263
,
KWD
406.656
410.7225
,
CNY
17.183
17.3549
,
ZAR
6.809
6.8771
,
XDR
163.5968
165.2328
,
EUR
130.3399
131.6433
,
AED
34.1906
34.5326
,
SAR
33.4851
33.8199
,
AUD
78.847
79.6354
,
CAD
87.8638
88.7424
,
USD
125.5925
126.6171
,
KES
0.9698
0.9989
,
INR
1.445
1.4595
,
DJF
0.7034
0.7245
,
DKK
17.4754
17.6502
,
NOK
11.1555
11.2671
,
SEK
11.5525
11.668
,
CHF
137.8471
139.2256
,
GBP
156.4129
157.977

binance

USDT
146.45
145.8

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

($)

87.57
89.32

± 1.75

Flag of EUR

EUR

(€)

135.43
138.14

± 2.70

Flag of GBP

GBP

(£)

156.39
159.52

± 3.12

Flag of SEK

SEK

(kr)

11.58
11.81

± 0.23

Flag of USD

USD

($)

125.20
127.71

± 2.50

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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