The bank was established with the largest initial shareholder base in the history of Ethiopia's private banking sector, comprising over 167,000 shareholders. The bank's paid-up capital has reached more than 7.4 billion ETB. As of recent financial reporting, its total capital reserves exceed 10.285 billion Birr.
Operations and services Amhara Bank operates a network of over 320 branches across Ethiopia, serving a customer base of approximately 2.9 million individuals.
Digital banking The bank provides digital financial services, primarily through a proprietary mobile banking application. The digital platform has registered over 1.2 million subscribers.
Interest-free banking Amhara Bank operates a full-fledged interest-free banking (IFB) window under the brand name "Marhaba," which was launched on March 18, 2023. The service offers Sharia-compliant financial products tailored for customers seeking non-interest financial solutions.
History Amhara Bank was inaugurated on 18 June 2022 at the Legahar Headquarter in Addis Ababa. It is private bank with the largest number of shareholders in the history of private banks in the country, according to the Amhara Media Corporation (AMC) report. As of January 2023, the bank had over 165,000 shareholders and over 72 branches across Ethiopia. Amhara had over 6.516 billion birr starting capital for its signature and 4.83 billion birr that are paid.
Its capital, which was over 6.5 billion birr, moved from 180,000 subscribers, becoming the largest shareholder base in the Ethiopia's banking industry. Melaku Fanta was a chairman of the Board of the Amhara Bank.
See also List of banks in Ethiopia
References