Tsehay Bank to launch operations

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Tsehay Bank Share Company is poised to officially launch operations on Saturday, July 23, 2022.

Tsehay Bank will officially launch operations at its Headquarters—Meaza Desalegn building—in front of Global Hotel.

It has a business motto: “Tsehay Bank for All”.

The Bank has collected 734 million Birr in paid-up capital and it has 3 billion Birr in subscribed shares from 373 shareholders.

Tadesse Ayenew, Tsehay Bank’s Vice Chairperson of the Board of Directors said in a presser on Thursday at Hyatt Regency Hotel that the minimum share a shareholder can buy is 100,000 Birr while the highest a shareholder could buy is stood at 100 million Birr.

It took five months to conduct its shareholders meeting to set up the Bank, Taye Dibekulu, Board of Directors Chairperson at Tsehay Bank said.

“We’ll strive to serve all sections of the society,” Taye added

The Bank has a plan to open 100 branches in its first year’s operations while 50 branches are expected to be inaugurated in a few months, according to Yared Mesfin, CEO of Tsehay Bank.

Ethiopia has 21 private and two state-owned banks.

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