Bank Review: Abay Bank—Everything you need to know

Abay Bank was officially established on July 14, 2010, but it started operations on the 4th of November, 2010. It was named after the Abay river for its “natural strength and grandeur”.

Bank Review: Abay Bank—Everything you need to know

Named after the Abay river (the blue Nile river), Abay Bank is a commercial bank in Ethiopia that provides banking services to different sectors in Ethiopia (domestic trade and services, international trade, agriculture, industry, transportation, construction and real estate).

Abay Bank has over 1,751,382 Customers, 391 Branches, 161 ATMs, and 3,530 employees. The bank is also concerned with promoting growth and development in Ethiopia.

This article covers the products and services offered by Abay Bank.

History of Abay Bank

Abay Bank was officially established on July 14, 2010, but it started operations on the 4th of November, 2010. It was named after the Abay river for its “natural strength and grandeur”.

As of June 2022, Abay Bank has 4317 shareholders and a start-up capital of Birr 3.62 billion.

In 2022, Abay Bank and Esdros Construction Trade and Industry signed a Memorandum of Understanding (MOU) of partnership.

Yehuala Gesesse is the Chief Executive officer of Abay Bank while Ethiopia Tadesse Akana is the Board Chairperson.

Abay Bank's products and services

Abay Bank offers banking products and services to individuals and businesses operating in Ethiopia. These products and services are grouped into:

Savings accounts

Abay Bank’s savings accounts are for individuals that want to save or carry out daily transactions. Some of Abay’s savings accounts are:

Children savings account

This is a savings account for children. It is available to individuals younger than 18 and it's opened on the child's behalf by their parents or guardians.

The account also earns an interest rate of 7.5% per annum.

Saving deposit account

This is an interest-earning account. A minimum amount of Birr 25.00 ($0.48) is required to open the account.

Women’s savings account

This is a savings account available to only women. No amount is required to open the account. The account also enjoys an interest rate of 7.215% per annum.

Youths’ savings account

This is an account for individuals between 18-24 years. No amount is required to open the account and it had an interest rate of 7.215% per annum.

Foreign currency accounts

These are bank accounts used to receive funds from other countries. The account can be used to hold foreign and local currencies.

Abay Bank has 4 types of foreign currency accounts:

  • Non-resident non-transferable,
  • Non-resident transferable,
  • Non-resident transferable foreign-currency,
  • Diaspora accounts.

To open an Abay Bank account, simply visit any Abay Bank branch or Abay agent near you.

You can view the other bank accounts offered by Abay Bank here and here.

Loan products

These are credit facilities offered by Abay Bank to businesses and individuals. Some of Abay Bank’s loan products are:

Revolving/renewable credit facilities

Abay Bank offers different types of revolving/renewable credit facilities. They are mostly suited for businesses, but individuals can also qualify for some of the credit facilities.

These credit facilities are:

  • Overdraft facility
  • Temporary overdraft
  • Overwithdrawal
  • Merchandise loan facility
  • Import letter of credit facility
  • Pre-shipment export credit facility
  • Revolving export credit facility
  • Advance on export bills facility

Term loan facilities

These are loans for businesses to provide working capital for their business or finance a project.

Term loans can be relayed monthly or quarterly depending on the nature of the business and its cash flow. Abay Bank's term loans can be used as:

  • Short-term working capital loan
  • Medium-term working capital loan
  • Long-term project financing loan
  • Motor vehicle purchase loan
  • Construction machinery purchase loan
  • Building construction loans
  • Construction working capital/bridge loans

Diaspora loan facilities

These are loan products offered to Ethiopians in the diaspora. Abay Bank offers two types of diaspora loans: Diaspora mortgage loans and diaspora investment loans

Diaspora Mortgage Loan

These are loans for Ethiopians in the diaspora that are interested in buying or building residential and commercial houses.

To be eligible, the applicant must

  • Be an Abay Bank diaspora customer
  • Be able to prove their source of income
  • The building to be built or bought must be in the name of the applicant or their spouse
  • Repay the loan within 20 years
  • Fulfil other requirements as specified by the bank
Diaspora Investment Loan

These are loans to partially finance diaspora investors interested in agricultural, agro-processing and manufacturing sectors as well as other service activities.

The loan period is determined by the type of the project and the Bank’s policy.

To be eligible for the loan, you must produce the following documents notarized by the MFA:

  • Certificate of marital status
  • A valid copy of your passport
  • A copy of an Ethiopian-origin ID (yellow card)
  • Tax identification Number (TIN)
  • Tax clearing letter from concerned authorities
  • Investment and principal registration license
  • A letter from the applicant showing his/her minimum equity contribution of 30% to the cost of the investment project
  • Bank account statements, audited financial statements, and other documents as specified by the bank.

You can view other types of Abay Bank loans here.

You can also apply for Abay Bank loans by visiting the nearest Abay Bank branch.

International money transfer

Abay Bank customers can send and receive money into their Abay Bank accounts from other countries.

Abay Bank is a member of the SWIFT network. The bank is also partners with different international money transfer agents.

Abay Bank customers can send and receive money through the following international money transfer agents:

  • Western Union,
  • Thuns
  • Money Gram
  • Dahabshiil
  • Trans Fast
  • Ria
  • U-Remit
  • World Remit
  • Shift and
  • Remitly

Other types of products and services offered by Abay Bank are export services, import services, and foreign bank guarantees.

Interest-free banking (Sadiiq)

In addition to its conventional bank products, Abay Bank also offered Shariah-compliant banking products to its customers.

Its interest-free banking product, known as Sadiiq, offers the following products:

Wadia deposits

These are accounts that operate similarly to normal bank accounts. Abay Bank has two types of Wadia deposit accounts: Wadiá savings and Wadiá current

Mudarabah (Investment) deposit

These are similar to fixed-time deposit accounts and they can be opened by individuals and businesses for a specified period.

Abay Bank has two types of Mudarabah deposit accounts: Mudarabah saving account and Mudarabah term deposit account.

Other types of Abay Bank’s interest-free banking products are Murabaha financing, Qard-El-Hasan financing bank, Kafalah and Halal ATM Cards.

Abay Bank’s digital channels

These are e-channels Abay Bank customers can use to access and manage their accounts. Abay Bank’s e-channels include:

Mobile banking (*812# and Abay Bank app)

Abay Bank’s mobile banking allows its customers to access the bank's services via a USSD code (*812#) and mobile app.

With Abay Bank’s mobile banking, you can:

  • Send money to other accounts
  • Manage your bank account
  • Block and activate a debit card
  • Purchase airtime
  • Manage your active loans
  • Monitor daily foreign exchange
  • Request for chequebookok
  • Pay bills

You can register for Abay Bank’s mobile banking by downloading the Abay Bank Mobile app from the Playstore or by dialling *812#.

You can also visit any Abay Bank branch near you to get started.

Abay bank internet banking

Abay Bank internet banking allows customers to access their accounts via the internet. Abay’s e-Banking portal allows you to:

  • Manage your bank account
  • Transfer money to other accounts
  • Request and manage your loans
  • Request, activate, and deactivate your card
  • Pay bills
  • Make bulk payments
  • Monitor daily foreign exchange

You can sign up for Abay’s internet banking by visiting any Abay bank branch or by registering here. Registered users can log in to the portal here

Card banking

Abay Bank cards can be used to:

  • Withdraw money
  • Manage your Abay account
  • Transfer funds to other accounts
  • Request for chequebookok

You can find an Abay Bank ATM here

Agent banking

Abay Bank “Abay Bedeje”  agents are individuals authorised by the bank to perform banking transactions on their behalf.

You can perform the following bank transactions at any Abay Bank agent shop:

  • Open an Abay Bank account
  • Deposit and withdraw funds
  • Pay bills
  • Purchase airtime
  • Send and receive money

You can find an Abay mobile agent here.

Frequently asked questions

What is Abay Bank’s contact information?

Abay Bank head office: Zequala Complex, Jomo Kenyatta Ave., Addis Ababa, Ethiopia

Telephone number: +251 115 549 731 and +251 115 528 882

Postal address: P.O. Box: 5887

Fax number: +251 115 528 882

Email address:

You can find any Abay Bank branch near you here

What is Abay Bank’s website

You can visit Abay Bank’s website here

You can also visit its Facebook, Twitter, LinkedIn, Telegram, and YouTube pages.

What is Abay Bank's customer care number?

You can call 8834 to speak with an Abay Bank customer care representative.

You can also call +251 115 571 043, +251 115 571 228, +251 115 571 193, and +251 115 571 862.

What is Abay Bank’s USSD code


What is Abay Bank’s SWIFT code



Abay Bank is a private commercial bank in Ethiopia with banking products for both individuals and companies.

Its website provides the basic information you need, but it is advised you visit an Abay Bank branch to fully understand its product and service offerings.