Awash Bank, a renowned institution in Ethiopia, has officially announced its intention to expand beyond national borders into other regional markets. The bank has confirmed that it has submitted a formal request to the National Bank of Ethiopia (NBE) to realize this goal.
Tsehay Shiferaw, CEO of Awash Bank, explained that the request is currently in process, and a response is expected within the coming days. This effort toward regional expansion comes at a critical time for Ethiopia’s financial sector. Following a policy shift by the federal government allowing foreign banks to operate domestically, Awash Bank is moving to expand into neighboring countries that have strong trade ties with Ethiopia.
Although the bank did not specify by name which neighboring countries it plans to expand into, the CEO explained that its focus is on countries in the region with strong commercial relationships with Ethiopia.
While awaiting a response from the National Bank, the bank is focusing on its ongoing domestic transformation projects. Tsehay noted that the bank is working on digital integration and branch expansion—including the opening of 25 new branches recently—which will enable it to remain competitive and profitable in the changing economic landscape.
These details were disclosed during a statement regarding the bank’s performance for the 2025/26 fiscal year. As reported, the bank’s total deposits reached 467.8 billion Birr as of June 30, 2026.
Tsehay stated that the bank’s total assets reached 622 billion Birr, and the paid-up capital grew by 38 percent from 27.9 billion Birr last year, reaching 38.5 billion Birr as of June 30—an increase of 10.6 billion Birr.
The bank also indicated that its total revenue for the 2018 fiscal year exceeded 85.37 billion Birr, while its total expenditure reached 44.62 billion Birr.
