Fryat Yemane and her new baby boy

Fryat Yemane and her new born baby boy.

Tsedey Bank has announced that it has started providing mobile banking services

#Ethiopia Suning Bank has announced the launch of *616# mobile banking application and USSD service today, December 10, 2016 at the service launch ceremony held at Sheraton Hotel.

According to the president of the bank, Ato Mekonen Lailawesen, mobile banking services provide various benefits including convenience, accessibility, cost-effectiveness, improved security and additional financial management tools, and the mobile banking application works anywhere without internet.

Suneen Bank started its business in 1988 as a rural loan service, and in 1989, it received a license from the National Bank to provide small loan and savings services, and for a quarter of a century, it was providing only small loan and savings services in the Amhara region as the Amhara Loan and Savings Institute (ABQTE).

The bank started its operations with 3 million capital and 40 employees and currently has more than 13,600 employees and more than 13.6 customers.

Following the directive issued by the National Bank in 2012 that small credit and savings institutions can grow into a bank, the bank officially started providing services on September 14/2015. The bank's capital is 12.8 billion birr, and total assets have reached 55.7 billion birr.

Since the bank started providing banking services, it has opened 46 branches in Addis Ababa city and is expanding its reach by opening branches in Oromia and South Ethiopia regions.

It has a total of 572 branches so far. It is said that more than 29.65 billion birr has been distributed to customers and more than 24.57 billion birr has been collected from customers.

The bank built a huge data center at the beginning of 2015 and is providing services to all branches through the system.

Mobile Banking; It is expanding internet banking and other digital banking options.

Among the bank's services are savings services, discretionary savings services, term savings services, group loans, individual loans, property loans, micro and small enterprises loans, solar energy loans, agricultural inputs loans, foreign exchange, foreign trade loan services, fixed asset mortgage loans, Construction loan services, mobile banking and internet banking services are prominent.