2merkato

Nib International Bank, Ethiopia officially introduced a new logo last week. The new logo is in line with the banks desire to re-brand to meet customer expectations and to better reflect the banks mission, vision and core values.

The Board of Directors and the management team exerted effort to create a new brand that is consistent with the services that the bank offers and the new developments that are taking place at the bank said Tafesse Bogale, Chairman of the NIB board.

The new brand and logo were created in a manner that will allow domestic and international customers to quickly recognize the bank without necessitating a name to be attached.

One of the private banks in Ethiopia, Nib International S.C., had launched Visa Card service starting from August 24, 2015, Capital reported.

Nib International Bank S.C, Ethiopia announced that it had made a net profit of 286.2 million birr in the last financial year.
The bank noted that this revenue showed an increase of 16% from the revenue the bank had earned in the previous financial year.

The profits earned by the bank in the last fiscal year are due to the successful efforts it has exerted in its service according to Amerga Kassa, President of the Bank. The bank still has areas that are in need of improvement to maintain this performance or even to surpass it he noted.

The profit earned by the bank ,which is an all time high, in spite of the foreign exchange shortage and the National Bank directive establishing that private banks invest 27% of their loan disbursement in National Bank bills.

Nib International Bank, Ethiopia auctioned of 80,000 shares within a few hours at a 40% premium over the original share price offered to the public.  

The 80,000 shares on offer were all sold within half a day for cash remarked a businessman who purchased shares worth 40,000 birr. The bank was not accepting checks because there were many willing to pay cash for the shares he noted. 

Nib International Bank, Ethiopia signed an agreement with TEMENOS Group for the development of Centralized Online, Real-time Electronic (CORE) banking solutions.   

The contract was signed by the Amerga Kassa, President of NIB and Keith Stonell, Member of the TEMENOS board last week. The monetary value of the agreement was undisclosed at the time.

It is expected that the system will be installed at all NIB branches in nine to twelve months.