Amhara Bank will officially launch operations this weekend with 70 branches, Melaku Fenta, its board chairperson said.
A financial institution joining the industry with a record-high capital, Amhara Bank has more than 180,000 shareholders, higher than any other banks in Ethiopia.
Armed with a paid-up capital of over 4.8 billion birr, the executives of Amhara targeted to increase the number of their branches to 100 by the end of this year.
Henok Kebede, former vice president of Dashen Bank, is now heading the new entrant as a president.
