The present-day Bank of Abyssinia was established on February 15, 1996 (90 years to the day after the first but defunct private bank was established in 1906 during Emperor Menelik II) in accordance with 1960 Ethiopian commercial code and the Licensing and Supervision of Banking Business Proclamation No. 84/1994.
BOA started its operation with an authorized and paid up capital of Birr 50 million, and Birr 17.8 million respectively, and with only 131 shareholders and 32 staff.
In two decades since its establishment Bank of Abyssinia has registered a significant growth in paid up capital and total asset. It also attracted many professional staff members, valuable shareholders and large customers from all walks of life. This performance indicates public confidence in the Bank and reliability and satisfaction in its services.
Currently, employing the state-of-art banking technology, the Bank provides excellence domestic, international and special banking services to its esteemed and valuable customers. It also strives to serve all economic and services sectors via its ever increasing branch networks through out the country.
THE DESCRIPTION OF THE LOGO
BoA’s corporate logo icon consists of a diamond shaped six petals yellow colored flower (endemic) called “adeyabeba”, surrounded by a square with black color in the background.
The flower: the logo is taken from an endemic six petal flower, locally known as “adeyabeba”. Its botanic name is Bidensmacroptera (Sch.Bip.ex Chiov) Mesfin found in 1984. The type of the flower is located 38 km East of Robe town, in Bale. The color connotes hope and peace, signifying bright future for the BoA in a growing and peaceful economic environment.
The following are brief statements on the Bank’s Vision, Mission and Values.
To be the bank of choice for customers,employees and shareholdres.
To provide customer-focused finanicial services through competent, motivated employees and modren technology in order to maximize value to all stakeholders.
ብቃት ባላቸውና ለሥራ በተነሳሱ ሠራተኞች እንዲሁም በዘመናዊ ቴክኖሎጂ
በመታገዝ፤ ደንበኛ ተኮር የሆነ የፋይናንስ አገልግሎት በማቅረብ ባለድርሻ አካላትን ማርካት፡፡
ማኅበራዊ ግዴታን መወጣት
Since its establishment, guided with clear vision, mission and values, BOA has made great strides in business growth and development. Consequently upon this, as of December 31, 2016 the following have been registered.
Authorized and paid up capital of Birr 4 billion and Birr 1.37 billion, respectively, a total deposit balance of Birr 16.95 Billion and a total loans and advances of Birr 11.09 billion, which in effect enhance the risk absorbing and the lending capacity of the Bank.
BOA has 4,235 staff and 661,971 account holders and works with known money transfer agents such as Western Union, Express Money, Ria International, Trans fast , Dahabshiil, MoneyGram,kaah and Ezremit.
Following a strong demand for better service and products from all directions on the one hand, and a ground-breaking development in ICT, on the other, BOA has replaced its in –house IT system with the state-of- the art technology called T24 and started ATM and POS services with Habesha card and mobile banking services .Internet and Agent banking service will be readily available within the near future.
BOA has 1,732 shareholders who are successful businessmen, intellectuals, celebrities, etc.
Bank of Abyssina, which started banking services with only one branch in 1996, has 225 domestic branch networks, of which 106 branches are in Addis Ababa and the remaining 119 are established in bankable towns all over the country. Most branches work 10 hours a day 6 days a week (starting from 8.00 AM in the morning up to 12.00 AM),while some other work up to 7.00 PM in the evening. All City and Outlying branches are interconnected with state-of-the art ICT. All branches offer both domestic and international banking services.
Bank of Abyssinia still strives to identify bankable area every year and serve valuable customers by expanding its branch networks through out the country.
In this respect there are more branches on the pipe line to be opened in Addis Ababa and in region this fiscal year.