Tsedey Bank
Native name | ፀደይ ባንክ |
|---|---|
| Company type | Private |
| Industry |
|
| Predecessor | Amhara Credit & Savings Institution (ACSI) |
| Incorporated | 28 January 2022 (as Tsedey Bank) |
| Founded | 1 April 1997 (as ACSI) |
| Headquarters | , Ethiopia |
Number of locations | 627+ (2024) |
Area served | Ethiopia |
| Products |
|
| Services |
|
| Total assets | 62.2 billion birr (2024) |
| Total equity | 13.5 billion birr (2024) |
Number of employees | 13,400+ (2024) |
| Website | tsedeybank-sc |
Tsedey Bank (Amharic: ፀደይ ባንክ) is a private commercial bank in Ethiopia established in 2022. It was preceded by the Amhara Credit & Savings Institution (ACSI) that was established in 1995 as a microfinance company.
In January 2022, the bank acquired license from the National Bank of Ethiopia (NBE) on 28 January 2022 and officially inaugurated on 24 September 2022.
History
Tseday Bank was incorporated as the Amhara Credit & Savings Institution (ACSI) in 1995, as a rural credit department by the Organization for Rehabilitation and Development Ethiopia (ORDA-Ethiopia). In 1997, the bank transformed into licensed microfinance company.[1] As this time, its initial capital was 3 million birr with 40 employees.[2][3]
On 3 April 2021, the first shareholder assembly took place and approved the bank as a fully-fledged bank.[4] Tseday Bank acquired its license from the National Bank of Ethiopia (NBE) on 28 January 2022 and officially inaugurated on 24 September 2022. Its branches reached 148. As of 2025, Tseday Bank operated over 627 branches with over 13,400 staff.[5]
See also
References
- ^ Endeshaw, Dawit (2019-03-30). "Amhara Savingto Go Into Mainstream Banking". www.thereporterethiopia.com. Retrieved 2025-07-15.
- ^ "Tsedey Bank Officially Launches Operations in 2022". banksethiopia.com. 2022-09-28. Retrieved 2025-07-15.
- ^ "Former microfinance becomes largest private bank in Ethiopia – New Business Ethiopia". Retrieved 2025-07-15.
- ^ www.collegesidekick.com https://www.collegesidekick.com/study-docs/23408396. Retrieved 2025-07-15.
{{cite web}}: Missing or empty|title=(help) - ^ "From Microfinance to Modern Banking Tsedey Bank Scaled Nationally with Nutanix". www.nutanix.com. 2025-06-26. Retrieved 2025-07-15.