Enat Bank to open its doors next month

By Dawit Taye

Addis Ababa, Ethiopia – After a long reorganization process that took about two years, Enat Bank SC is scheduled to start official operations next month. The bank has already rented office space off Equatorial Guinea Street around Bambis area, according to Fasika Kebede, president of the bank. The bank plans on establishing three branches in Addis Ababa, Fasika added. Moreover, the bank also expects to open regional branches in the current year.

Back in May, the central bank accepted the nomination of Fasika, former secretary-general of the Ethiopian Red Cross and Red Crescent Society, to serve as president of Enat Bank.

Fasika’s nomination as a founding president of Enat was accepted  after two successive rejections of Brutawit Dawit, former president of Zemen Bank and Birtukan Gebre-Egzi, former president of Wegagen.

Fasika served with the Commercial Bank of Ethiopia for 24 years after graduating from Addis Ababa University in 1981. She conducted post-graduate studies in the University of Wales, UK. Fasika served with the Ethiopian Red Cross Society for five years before settling down to private business.

As president of Enat she said that her priorities would be to introduce modernbanking technologies and ensure services that put clients first, Fasika said.

The number of shareholders of Enat has reached more than 7000 with an approximate paid-up capital of 110 million birr, according to Fasika.

Moreover, the bank is finalizing the appointments of VPs and department heads.

Source: The Reporter