Enat Bank to launch construction of new headquarters

Enat Bank Share Company said that it is about to launch construction of its new headquarters at a plot of land in the financial district commonly known as Senga Tera.

“The construction of our new headquarter will be sprawled over 4000 square meter of land, which we received from the City Administration of Addis Abeba,” Genet Hagos, Vice President of Corporate Services at Enat Bank told Origins Business.

The multipurpose building has 35 stories.

“Selection of a design for the new building is already finalized and construction is expected to be completed in 4 years,” Genet said.

Meanwhile, the Bank has a plan to open 42 new branches in Addis Abeba and major cities across Ethiopia, according to Genet. Opening of the new branches ahead will increase its total branches to 129.

When the Ethiopian fiscal year started in July 2021, the plan set a plan to open 50 branches and so far 8 branches were opened.

In a recognition award program held Thursday at Yod Abyssinia Cultural Restaurant, Enat Bank has been awarded a certificate of recognition for its contribution in opening branches in the names of those who did spectacular deeds for Ethiopia.

Adwa Cultural and Historical Alliance also recognized Enat Bank for using the names of historical sites in their branches.

Women who suffered violence are also beneficiaries by the platform facilitated by the Bank. “We’ve supported 28 women who are victims of violence with jobs such as tea business,” said Genet.

Enat Bank has a paid up capital of over 1.7 billion Birr as of October 2021.  “We are working to boost our paid up capital to 5 billion Birr in five years,” she added.

The Bank profited 351 million Birr before tax in July 2021. More than 200 thousand customers are getting its services across 85 branches