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Tsedey Bank evaluates its nine months performance.

Tsedey Bank S.C evaluated its nine months performance of the 2022/2023 FY.

In the discussion held at Bahir Dar from April 19-20/ 2023, district managers have presented their performances briefly.

The CEO of the bank, Ato Mekonnen Yelewmwesen, noted that the bank’s overall performance is in a good position and much endeavor is needed to uplift the performance beyond the target.  Everyone in the bank has to exert his/her maximum effort in resource mobilization and look at beyond the horizon so that to enjoy the success at the end.

Tsedey Bank got its banking business license from National Bank of Ethiopia on January 28, 2022 and ccommenced full-fledged banking operation on September 20, 2022.

The bank is striving to increase its international and digital banking alternatives. It has already started correspondent banking relationship by opening USD account with CAC International bank of Djibouti and is finalizing processes with other international Banks. The Bank has also started business relationship with Dahabshiil Money Transfer Organization. Introducing digital banking services is also the other key focus area that the bank is working on.

According to the CEO, to make itself accessible to the communities, Tsedey Bank is broadening its banking channels.

Tsedey Bank joined the industry with huge paid-up capital of more than 7.75 billion birr and the bank’s capital has reached 12 billion birr. It has also more than 12,000 depositors and 1.5 million loan customers.

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