Tsehay Bank introduces Credit Card Service

Tsehay Bank officially launched Credit Card Service at its Headquarters located in Addis Ababa on 15 September 2023.

The service allows customers and affiliates credit purchases by analyzing monthly incomes and creditworthiness on their deposits and transactions.

CEO of the Bank, Yared Mesfin, stated that the bank started rendering the service after receiving the go-ahead from the National Bank of Ethiopia.

“The service which allows customers ‘to spend now and pay later’, will help widen customer base of the Bank as the monthly interest rate under two percent is much lower than industry averages” the CEO added.

It will also enable customers to cover their immediate financial needs and build their own credit score.

The service makes Tsehay Bank among the few private banks that extend a line of credit for its customers.

Founded in July 2022 with a subscribed capital of 2.8 billion Birr and a paid-up capital of 737 million Birr, Tsehay Bank has a total asset of 4 billion Birr, customer base of more than 283,000 and a network of 82+ branches across Ethiopia.