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
134.4412
137.13
,
GBP
183.2801
186.9457
,
EUR
158.0009
161.1609
,
JPY
0.7951
0.811
,
SAR
32.3526
32.9997
,
AED
33.044
33.7049
,
CAD
87.7096
89.4638
,
CHF
145.8086
148.7248
,
NOK
10.9003
11.1183
,
DKK
17.6388
17.9916
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

abyssinia

USD
134.385
137.0727
,
GBP
181.9681
185.6075
,
EUR
155.8784
158.996
,
AED
36.5902
37.322
,
CHF
168.6982
172.0722
,
SEK
14.1354
14.4181
,
NOK
13.3103
13.5765
,
CAD
98.5733
100.5448
,
SAR
35.8331
36.5498
,
CNY
18.7312
19.1058

abay

USD
134.4067
137.0949
,
GBP
182.5512
186.2023
,
EUR
157.2962
160.4421
,
AED
36.5902
37.322
,
ZAR
7.5339
7.6846
,
SAR
35.8351
36.5518
,
JPY
0.9165
0.9348
,
CHF
168.8103
172.1865
,
AUD
87.7004
89.4544
,
CNY
18.7188
19.0932

zemen

CAD
98.2827
100.2484
,
EUR
157.5001
160.6501
,
GBP
173.9501
177.4291
,
SEK
14.1404
14.4232
,
USD
134.6707
137.3641

buna

USD
134.6099
137.3021
,
EUR
156.3035
159.4296
,
GBP
182.2025
185.8466
,
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
134.3771
137.0647
,
GBP
182.7663
186.4217
,
EUR
157.6109
160.7632
,
CHF
168.498
171.8679
,
CAD
98.3223
100.2888
,
AED
36.5811
37.3128
,
SAR
35.8291
36.5457

berhan

wegagen

USD
134.5127
137.2031
,
GBP
182.3589
186.0061
,
EUR
157.1243
160.2668
,
CHF
168.7462
172.1211
,
SEK
14.1373
14.4201
,
CNY
18.7645
19.1399
,
JPY
0.9147
0.9331
,
AED
36.6278
37.3604

dgb

USD
134.3279
137.0145
,
EUR
155.9464
159.0653
,
GBP
174.9321
178.4307
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
35.9454
36.6643
,
CAD
79.1617
80.7449

enat

USD
133.6792
136.3528
,
EUR
151.7615
154.7967
,
GBP
176.3266
179.8531

ahadu

USD
134.461
137.1502
,
GBP
180.1432
183.7461
,
EUR
154.5012
157.5912
,
CAD
94.4677
96.3514
,
SAR
35.0504
35.7514
,
AED
35.7909
36.5067

addis

USD
134.572
137.2634
,
EUR
158.0003
161.1603
,
GBP
184.1205
187.8029
,
SAR
35.8801
365977
,
CHF
168.4888
171.8586
,
AED
36.6402
37.373
,
KWD
0
0

dashen

USD
134.6689
137.3623
,
EUR
156.2159
159.3402
,
GBP
181.803
185.4391
,
CAD
88.0731
89.8346
,
AED
33.1805
33.8442
,
SAR
32.4862
33.1359
,
CNY
16.8815
17.2191

oromia

USD
134.683
137.3767
,
GBP
177.4583
181.0075
,
EUR
149.2153
152.1996
,
CHF
169.1572
172.5404
,
SAR
35.9087
36.6269
,
AED
36.6654
37.3987

lion

USD
134.504
137.1941
,
GBP
181.5057
185.1358
,
EUR
157.0915
160.2333

developmentbank

USD
132.3534
135.0005
,
GBP
179.7624
183.3576
,
EUR
154.8932
157.991
,
CHF
166.2313
169.556
,
SEK
13.8865
14.1642
,
NOK
13.1004
13.3624
,
DKK
20.762
21.1772
,
DJF
0.7413
0.7561
,
JPY
0.9025
0.9205
,
CAD
96.6648
98.5981
,
SAR
35.2877
35.9934
,
AED
36.0312
36.7518
,
INR
1.5438
1.5747
,
KES
1.022
1.0425
,
AUD
86.3606
88.0878
,
SDR
181.5095
185.1396
,
ZAR
7.4188
7.5672
,
CNY
18.4329
18.8015
,
KWD
433.2986
441.9645

coop

USD
134.2806
136.9662
,
GBP
181.331
184.9576
,
EUR
155.4649
158.5742
,
AED
34.994
35.6938
,
SAR
34.2674
34.9528

gadaa

USD
135.0895
137.7913
,
GBP
165.8999
169.2179
,
EUR
158.1171
161.2794
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
134.0024
136.6825
,
EUR
152.5299
155.5805
,
GBP
177.3056
180.8518
,
SAR
36.1163
36.8386
,
AED
36.8772
37.6148

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
134.2785
136.9641
,
GBP
181.9625
185.6018
,
EUR
155.9095
159.0277
,
CAD
94.5045
96.3946
,
SAR
35.075
35.7765
,
AED
35.815
36.5313
,
AED

tsedey

USD
134.5561
137.2472
,
EUR
157.471
160.6204
,
GBP
182.7541
186.4091
,
AED
36.6308
37.3635
,
CHF
168.9978
172.3778
,
SEK
14.1176
14.3999
,
NOK
13.3184
13.5848
,
DKK
21.1075
21.5296
,
DJF
0.7536
0.7687
,
INR
1.5695
1.6009
,
JPY
0.9175
0.9358
,
CAD
98.2735
100.239
,
SAR
35.8749
36.5924
,
ZAR
7.5423
7.6931
,
CNY
18.7396
19.1144
,
KWD
440.5097
449.3199
,
KES
1.039
1.0598

siinqee

USD
134.08
136.7616
,
EUR
157.015
160.1553
,
GBP
181.7173
185.3516
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
36.3332
37.0599

hibret

USD
134.0001
136.6801
,
GBP
176.1027
179.6248
,
EUR
156.8203
159.9567
,
AED
36.4795
37.2091
,
CAD
97.8674
99.8247
,
CNH
18.6622
19.0354
,
CHF
148.0209
150.9813

gohbetoch

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
0.9382
0.9476
,
KWD
443.3502
447.7837
,
CNY
18.9099
19.099
,
ZAR
7.694
7.7709
,
XDR
186.4392
188.3036
,
EUR
159.54
161.1354
,
AED
36.8717
37.2404
,
SAR
36.1137
36.4748
,
AUD
88.8109
89.699
,
CAD
99.6501
100.6466
,
USD
135.4444
136.1459
,
KES
1.0467
1.0781
,
INR
1.5854
1.6013
,
DJF
0.7586
0.7813
,
DKK
21.3824
21.5962
,
NOK
13.4535
13.588
,
SEK
14.1789
14.3207
,
CHF
170.6279
172.3341
,
GBP
184.841
186.6894

binance

USDT
160.2
159.61

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 sellingDifference
Flag of CAD

CAD

($)

98.28
100.24

± 1.96

Flag of EUR

EUR

(€)

157.50
160.65

± 3.15

Flag of GBP

GBP

(£)

173.95
177.42

± 3.47

Flag of SEK

SEK

(kr)

14.14
14.42

± 0.28

Flag of USD

USD

($)

134.67
137.36

± 2.69

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

Visit Website

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Zemen Bank

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Pre Paid Cards

Debit card linked with Zemen Account

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Awash Bank

Awash Bank

Business Banking

Plenty of business banking choices

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Commercial Bank of Ethiopia (CBE)

Commercial Bank of Ethiopia (CBE)

CBE Birr CBE NOOR

For business

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Bank of Abyssinia

Bank of Abyssinia

E-Commerce

Simplify Customer Experience

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