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Awash International Bank (AIB) bought 100 automatic teller machines (ATMs) and 400 Point of Sale (POS) machines as the bank expands services while continuing to increase profits.
The Bank’s public relations Head Mechal Bedada said that the machines will be delivered in three months’ time.
“During the bid process, we involved six companies for the ATM and four companies for the POS machines,” he said. The Bank did not disclose the cost of purchasing the machines.
CBN Computer Business Machines, a Lebanon-based company, won the bid for the ATM machines. A Moroccan Company, S2M, won the bid for the 400 Point of Sale machines. S2M was the company that won the bid to form a joint electronic payment system for the three banks; Awash International Bank, NIB International Bank and United Bank.
Awash International Bank’s currently has 115 branches throughout the country. According to the banks performance, the Bank’s total deposits, including LC margin held, rose to 13.1 billion birr in 2012/13, an increase of more than 3.5 billion birr over the previous year.
Total loans and advances extended to different sectors of the economy also rose markedly to 7.7 billion birr by the end of June 2013, up 40 percent or 2.2 billion birr compared to the preceding year.
The Bank’s total income surged to 1.4 billion birr, a growth of 28 percent or 309 million birr, compared to the preceding fiscal year. It also recorded an unaudited gross profit of 639 million birr in the 2012/13 fiscal year, exceeding the previous year’s profit by 20.3 percent.
The paid up capital stood at 1.2 billion birr by the end of June 30, 2013, up from 912 million birr a year ago.