Berhan International Bank is an Ethiopian commercial bank that offers banking products and services to individuals and businesses, including electronic and international banking, with 308 branches.

This article covers the products and services offered by Berhan Bank, how to access them, and useful links to the forms needed to sign up for their products and services.

History of Berhan Bank

Berhan Bank was established in 2009, opening its first branch in Bole, Addis Ababa with an authorized 300 million Birr and subscribed capital of more than 154 million Birr.

Berhan bank has since expanded its services to include small and medium-sized business and corporate banking, foreign exchange transactions, import/export financing, diaspora savings and current accounts, and other banking services.

In June 2022, Berhan Bank’s assets were valued at approximately 33 billion Birr (US $614 million). Girum Tsegaye is Berhan Bank’s current President.

Berhan Bank’s products and services

Berhan Bank offers personal and business banking products to its customers. They are split into the following categories:

Personal Banking

These are bank accounts and loan products suited for individuals. Berhan Bank’s personal bank account products are:

Savings account

This is an interest-earning account for individuals interested in saving for the future. Berhan savings accounts can be operated in Birr. A minimum amount of Birr 50 (~$1.00 USD) is required to open the account, and the minimum balance for interest accrual is Birr 101 (~$2.00 USD). To open a savings account, you need a valid, renewed ID card and one passport-sized photo. The minimum savings account yield is set by the National Bank of Ethiopia, which has currently set the minimum saving and time deposit rates at 5%.

Children’s savings account

This is a savings account that parents or legal guardians can open to save for their children’s future. The account matures when the child turns 18, at which point money can be withdrawn. The parent or guardian cannot operate the account until this time. The parent or guardian must submit an application to open the account. A minimum amount of Birr 50 (~$1.00 USD) is required to open the account, and the minimum balance for interest accrual is Birr 101 (~$2.00 USD).

Women’s savings account

This savings account is designed specifically to help women save and earn interest on their money. To open an account, you need a valid and renewed ID card and one passport-sized photo. Deposits and withdrawals can be made with or without a passbook at the branch or using ATM cards from designated cash-dispensing ATMs. The initial deposit to open a women’s savings account is Birr 500 (~$10 USD), and the bank advertises an “attractive” interest rate.

Non-interest bearing account

This is an account designed for customers who do not want to earn interest on their deposits. It is an interest-free account and can be operated with or without a passbook and ATM Card. This account is opened at the request of the customer.

Diaspora accounts

Berhan bank offers a few options for Ethiopians who are part of the diaspora community. These include:

• Diaspora FCY account
• Fixed / time deposit account
• Current account
• Non-reparable-Diaspora Birr Account

Diaspora accounts can be opened in US Dollars, Great British Pounds, or Euro currencies. A minimum amount of USD 100 is required to open the account.

Other personal bank account products offered by Berhan Bank are Fixed Time Deposit Accounts, Premium Savings Accounts, Retention Accounts, and FCY Savings Accounts.

You can open a personal Berhan Bank account by filling out the account opening form, gathering all necessary documentation, and visiting any Berhan Bank branch near you.

Business Banking

Berhan Bank’s business banking products and services include:

Business current account

This account type goes by the names Current Account, Demand Deposit Account, or Checking Account. A reference to any of these means the same thing. The business current account is operated through checks, meaning you write checks to make payments against your account balance. According to the bank, “There is a minimum initial deposit amount required to open a current account for individuals and individual trade operators is for corporate bodies can be opened and/or operated by a legal agent in the name of the principal, through a power of attorney, which shall be confirmed by the Branch.”

The account application form is available here.

Provident fund account

This account type is opened by an employer on behalf of an employee for a special savings purpose. Employers send the bank a list of employees with associated documentation to open accounts on behalf of employees.

Small and medium enterprise (SME) account

This account type is intended for small and medium enterprises, or businesses, which also includes investment groups. It offers savings-based loans, meaning you deposit funds in the account in order to qualify for a loan. Loans are secured against your account balance.

Long term loan

Long terms loans come to maturity between 5 and 7 years. Long-term loans are paid via period instalments. According to the bank, long-term loans may qualify for extensions “for projects/businesses whose nature justifies or require, such periods for implementation and repayment of the loan.”

SME loan (Medium-term loan)

Medium-term loans come to maturity between 3 and 5 years. Medium-term loans are paid via period instalments. To apply, the bank requests the following:

• Loan application letter
• Identity card
• Proof of income OR employment
• Confirmation of marital status
• Confirmation of age (must be at least 18 to open an account)
• Collateral ownership document
• Business plan

Bank forms are available here.

Short term loan

Short-term loans are repaid within 1 year and are made for working capital needs or for purchasing income-generating assets (e.g. tractor). To apply, the bank requests the following:

• Loan application letter
• Identity card
• Proof of income OR employment
• Confirmation of marital status
• Confirmation of age (must be at least 18 to open an account)
• Collateral ownership document
• Business Plan

Bank forms are available here.

Pre-shipment loan

Pre-shipment loans are for businesses that need capital to fulfil a customer order. Pre-shipment loans are secured by NBE, DBE, another bank guarantee, or irrevocable sales contracts. According to the bank, “Each advance shall not exceed 80% of the sales contract or 90% of the sales contracts for which Letter of Credit is opened.”

International banking services

• Information on correspondent Bank can be found here.
• Information on Forex Bureau can be found here.
• Information on Foreign Currency Saving Accounts can be found here.
• Information on Swift services can be found here.
• New diaspora account application form here.

Berhan Bank’s digital channels

These are alternative channels Berhan Bank customers can use to access and manage their accounts. Berhan Bank customers can access and manage their accounts through the Berhan Bank internet portal.

With Berhan internet banking, you can:

• Check your account balance and your last five transactions
• Order cheque books, check a cheque’s status, and stop a cheque
• See daily exchange rates

Additionally, corporate customers can:

• process bulk payments
• send money to another bank using an interbank transfer
• replace lost or stolen cards

Registered users can log into the Berhan Bank portal [here](https://berhanonline.et/rubikonibank/logonpage.sn#!).

Mobile banking

Berhan Bank’s mobile banking channels can be accessed by any Berhan Bank customer who has registered for mobile banking. It is available on Google Play and via USSD (*881#). Features include:

• Check Balance
• Mini-statement (last 5 transactions)
• Order cheque book
• Make a cheque status inquiry
• Stop a cheque
• Query exchange rates

Card banking

ATM and POS machines are available throughout the country. Machines support Mastercard and Visa. As a card banking customer, you can check your balance, change your PIN, withdraw funds, and transfer money domestically.

Frequently asked questions

What is Berhan Bank’s contact information?

Headquarters: Bole Sub City, Wereda 03, Bole Bridge, TK building, Ethio-China Road

Email address: info@berhanbanksc.com

Berhan Bank’s phone number: +251 11 618 5722

You can find any Berhan Bank branch or ATM here.

What is Berhan Bank’s website

You can visit Berhan Bank’s website here

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

What is Azania Bank’s SWIFT code

BERHETAA

What is Azania Bank’s USSD code

*881#

Conclusion

Berhan Bank offers products and services that both individuals and businesses can use.

Sources

https://berhanbanksc.com/