 | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2 October 2008 |
| Headquarters | , Ethiopia |
Area served | Ethiopia |
Key people | Dereje Zebene (CEO) |
| Products | Banking services |
| Revenue | 7.8 billion birr (2024) |
| 2.5 billion birr (2023) | |
Number of employees | 438 (2023) |
| Website | zemenbank |
Zemen Bank is a private commercial bank that operates across Ethiopia. Established in 2008, the bank is one of banks to provide commercial activity in Ethiopia.
Zemen Bank was established on 2 October 2008 "licensing and supervision of banking business proclamation No. 84/1994" of Ethiopia. It is private bank with commercial type. [1] [2] In 2023/2024 fiscal year, its total revenue has reached about 7.8 billion birr (101% of annual report). [3]
On 12 February 2012, Zemen Bank made the first ever inaugural hot air balloon flight from Jan Meda field as part of advertising campaign. The advertising arrangement was made by Dutch-Ethiopian company Abyssinian Balloon PLC. [4] In August 2024, Zemen Bank provided services to 75 Dutch companies operating in Ethiopia. [5]
The economy of Ethiopia is a mixed and transition economy with a large public sector. The government of Ethiopia is in the process of privatizing many of the state-owned businesses and moving toward a market economy. The banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies.
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