All About NIB Bank
Nib International Bank (NIB) was established on 26 May 1999 under license no. LBB/007/99 in accordance with the Commercial Code of Ethiopia and the Proclamation for Licensing and Supervision of Banking Business Proclamation no. 84/1994 with the paid up Capital of birr 27.6 million and authorized capital of Birr 150 million by 717 Shareholders. The Bank commenced the operation in 28 October 1999 by 27 employees. It joined the banking industry as the sixth private bank licensed in the country.
The Bank implemented Mobile and Internet Banking through which it is issues NIB cards and has placed its ATM’s at various locations throughout the Country to provide its diversified products in convenient ways to our esteemed customers. Moreover, to enhance the application of modern banking technologies and provide competitive service via a wide range of card banking services, the Bank has established a strategic partnership with MasterCard, VISA and Union Pay branded cards which is one of the breakthroughs to provide international payment service.
The Bank has registered a steady growth and achievement in all aspects of its operations since its establishment. At the end of financial year 2016/17, its total deposits and loans and advances stood at about Birr 16.4 billion and Birr 10.9 billion respectively. Total assets also grew to about Birr 21.1 billion and paid up capital to Birr 1.8 billion. The level of net profit before tax and after tax reached Birr 681.5 million and Birr 516.4 million in 2016/17 respectively. The Bank’s shareholders are close to 4,000 and the total number of customers exceeds 520,000. The Bank’s employees reached more than 3,600 as at June 2017.