Debub Global Bank, Ethiopia to begin Operations
Debub Global Bank is set to enter the banking sector in Ethiopia as the 15th private bank after receiving a license from the National bank and a trade permit from the Addis Ababa Trade Bureau at the end of the month.
The bank expects to launch operations in July with two branches in Addis Ababa and one each in Hosanna and Hawassa according to Workku Lemma President of Debub. It is currently in the process of setting up offices, seeking companies to provide IT services and CORE banking solutions in particular as well as hiring staff.
The bank will require a commencement letter from the central bank which will conduct a field inspection to affirm that it is ready to begin operations.
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