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 upervision 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.
VISION MISSION AND VALUE
The following are brief statements on the Bank’s Vision, Mission and Values.
To become a leading commercial bank in East Africa by the year 2030
We are committed to provide excellent financial services through competent, and motivated employees, and digital technologies in order to maximize value to all stakeholders
- Customer Satisfaction
- We are committed to provide the highest quality service to our customers at competitive price
We continuously work towards achieving excellence in all our endeavors
- We promote and stand guard to a set of high moral standards and ethical values
- Team work and collaboration
- We foster team work and collaboration to achieve our goals
- Caring for our community
- We promote a sustainable and responsible business practices that are conscious of the community we operate in
Authorized and paid up capital of BoA as at 30 June 2018 is Birr 4.24 billion and Birr 2.56 billion, respectively, a total deposit balance of Birr 25.79 Billion and a total loans and advances of Birr 17.99 billion, which in effect enhance the risk absorbing and the lending capacity of the Bank.
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. BoA also provides Internet banking services while Agent banking service will be readily available within the near future.
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 June 30, 2018 the following have been registered.