Awash International Bank
About Awash International Bank
Awash International Bank S.C. (AIB) is the pioneer private commercial bank in Ethiopia after the downfall of the military regime and introduction of market economic policy in 1991. It was established by 486 founder shareholders with a paid-up capital of Birr 24.2 million. Licensed on November 10, 1994, it started banking operations on February 13, 1995. It was named after the popular river “Awash” which is the most utilized river in the country especially for irrigation and hydroelectric power. Awash River plays a pivotal role in the economic development of the country.
VISION of the Bank
“To be the most preferred Bank of the People.”
MISSION of the Bank
“To provide efficient, competitive, diversified and profitable banking services to a continuously growing number of customers in a socially responsible manner supported by appropriate modern banking technology as well as qualified, trained and motivated team of management and employees imbued with highly professional and ethical standards.”
- Building public trust & confidence;
- Treating customers as guests of honor;
- Growing together with customers;
- Discharging social responsibilities;
- Developing competent leadership with the right vision as well as competent and qualified employees imbued with strong team spirit;
- Building a strong and healthy bank of which the current and future generations will be proud of.
- To meet the needs of the emerging private sector for quality and dependable domestic and international banking services;
- To expand and diversify commercial banking services in response to the growing demands of customers; and
- To contribute towards the economic and social development of the country and to operate profitably in a sustainable manner.
Loans and Advances
Term loans Term loans are loans that are availed for defined purposes, to be repaid within a given period in a pre-determined repayment patterns. The loans are to be repaid on the basis of monthly, bi-monthly, quarterly, semi-annually and annual installments, in one lump sum upon maturity or other agreed amortization patterns, depending on the nature of the business and its cash flow.
- Short term loan, loans that are fully repaid within 36 months. These loans are used for working capital requirements of businesses.
- Medium and long term loans and advances, Loans that are repayable beyond 37 months up to 60 months. Such loan can be used for acquisition of fixed assets such as furniture, vehicles, machinery, construction as well for purchase and renovation of buildings.
Merchandise Loan Facility is a one time or renewable credit facility that may be granted against pledge of merchandise stock at a margin of advance, depending on the nature, stability & marketability of the merchandise items.
Overdraft facilities, Overdrafts: These are renewable credit facilities by which customers are allowed to draw beyond the deposits they maintain in their current accounts. Overdrafts are extended to meet working capital needs of borrowers based on justified volume of operation and the collateral/s proposed. Overdraft facilities are callable whenever the client breaches one or more of the covenants, upon 30 days prior notification.