Awash International Bank, Ethiopia is inaugurate an eight floor structure to house its main branch in Adama.
The new building lies on 1020 m2 with two basements. The construction took 53 million birr and four years to finalize and will be inaugurated in early June according to Abebe Dheressa, Planning and Business Development Manager with Awash.
The bank already has two branches Adama. Awash planned to construct a five storey building on the land it leased from the city. The bank paid 376,640 birr in compensation to residents who had inhabited the residential units that had been on the plot previously, and administered by the Agency for Government housing.
The design for the building was prepared by ACME Designers and Consultants who were paid 400,000 birr.In related news Awash International Bank has signed a 3.5 million US dollar agreement with British Misys International Banking Systems to upgrade the centralized, real time, online, electronic CORE banking system.
The bank floated a bid for the IT upgrade last August attracting a range of international companies including, Swiss Temenos Group, US Oracle Flex, Indian Infosys and Misys. Awash bank, which had previously had dealings with Misys when it installed its current system, decided to stick with the UK-based company.
The upgrade is expected to allow AIB to provide services to its 500,000 customers in finance, credit, human resources packages and Islamic banking. The technological upgrades also include anti-money laundering software.
Source: Addis Fortune
