Nib International Bank

Nib International Bank, commonly known as Nib Bank or NIB, is a private commercial bank operating in Ethiopia. It was established on 26 May 1999 under license LBB/007/99 and in accordance with Ethiopia’s Proclamation No. 84/1994 and the Commercial Code. The institution was founded by 717 shareholders, beginning operations on 28 October 1999 with 27 employees. It was the sixth private bank to receive a license in Ethiopia during the expansion of the country’s private banking sector. The bank’s original capitalization consisted of 27.6 million birr in paid-up capital and 150 million birr in subscribed capital. Over time, Nib developed from a conventional branch-based institution into a broader retail and commercial banking provider. Its activities include deposit taking, lending, payment services, card products, automated teller machine access, and digital banking. The available reference material describes the bank as one of Ethiopia’s larger private banks, although its relative ranking may vary according to the measure and reporting period used. Brand development has been part of Nib’s modernization program. A redesigned logo was created in 2012 by StudioNet. In August 2015, the bank introduced VisaCard services, with the stated aim of making card access more convenient for foreign nationals and tourists in Ethiopia. The card offering connected the bank more closely to international payment infrastructure and supported the country’s developing tourism and travel economy. The bank also expanded its physical and electronic service infrastructure. In October 2020, it obtained 270 automated teller machines supplied with the support of the Ethiopian technology company Moti Engineering. In December 2024, Nib launched Prepared Mastercard in collaboration with Mastercard. The service was presented as an online payment solution intended to support mobile banking and digital transactions across the bank’s branch network. On 3 February 2025, it introduced two further digital payment applications, Nib Amber Pay and Nib Paystream. Nib’s current positioning is therefore that of a domestic Ethiopian commercial bank combining traditional banking, branch distribution, payment cards, ATMs, and newer mobile and online payment tools. Its principal market remains Ethiopia, and no evidence in the supplied material establishes a substantial international branch network or a separately listed corporate parent. Financial information cited for the bank includes revenue of 713.34 million birr for the 2023/24 fiscal year, reported with an 11.4 percent growth rate, assets of approximately 77 billion birr as of 30 June 2023, and net loans of 53.3 billion birr. These figures are retained with their stated dates because banking metrics change materially across reporting periods.

Nib International Bank was created during the growth of Ethiopia’s private banking industry in the late 1990s. The institution was established on 26 May 1999 under license LBB/007/99, relying on Proclamation No. 84/1994 and the Ethiopian Commercial Code. Its shareholder base consisted of 717 founding shareholders. At formation, the bank reported paid-up capital of 27.6 million birr and subscribed capital of 150 million birr. Operations began on 28 October 1999 with a workforce of 27 employees. Nib was the sixth licensed private bank in Ethiopia, placing it among the early institutions that helped broaden the country’s banking system beyond state-dominated banking. Its core model was that of a domestic commercial bank serving customers through branches and conventional financial products. A significant visible brand change came in 2012, when Nib adopted a new logo designed by StudioNet. The redesign formed part of the bank’s continuing effort to modernize its public identity. In August 2015, Nib expanded into international card payments by launching VisaCard services. According to comments attributed to president Kibru Fondja, the service was expected to make Ethiopia more convenient for tourists and other foreign nationals requiring card access. The bank subsequently invested in delivery infrastructure. In October 2020, it obtained 270 automated teller machines, supplied with support from the Ethiopian technology company Moti Engineering. The ATM expansion complemented branch operations by increasing access to cash and basic self-service banking. During the 2020s, Nib’s development increasingly emphasized electronic payments. On 5 December 2024, it launched Prepared Mastercard in collaboration with Mastercard. The product was described as an online payment system intended to support mobile banking and digital transactions across the bank’s branch network. On 3 February 2025, Nib added two digital payment applications, Nib Amber Pay and Nib Paystream. These launches indicate a strategic shift toward mobile and online payment channels alongside the bank’s established branch, card, loan, deposit, and ATM services. The available reference material reports revenue of 713.34 million birr for the 2023/24 fiscal year, representing an 11.4 percent growth rate, and assets of approximately 77 billion birr as of 30 June 2023, a 25.3 percent increase from the preceding year. Net loans were reported at 53.3 billion birr. Because these figures relate to different reporting periods and are presented as reported metrics rather than a complete financial statement, they should not be treated as directly comparable without the bank’s underlying annual reports. Nib remains an Ethiopian private commercial banking brand. The supplied sources do not establish a foreign operating network, a stock-exchange listing, a parent group, or a current chief executive beyond the reference to Kibru Fondja as president. Its documented trajectory is from an early private Ethiopian bank to a financial-services provider adding international card acceptance and digital payment products to its traditional banking platform.

• 2025

  Digital payment applications introduced

  [1]Nib International Banken.wikipedia.org

  Nib introduced Nib Amber Pay and Nib Paystream on 3 February 2025.

• 2024

  Prepared Mastercard launch

  [1]Nib International Banken.wikipedia.org

  Nib launched Prepared Mastercard in collaboration with Mastercard on 5 December 2024.

• 2020

  ATM network expansion

  [1]Nib International Banken.wikipedia.org

  Nib obtained 270 ATMs with support from Moti Engineering.

• 2015

  VisaCard service launch

  [1]Nib International Banken.wikipedia.org

  The bank began offering VisaCard services from August 2015.

• 2012

  Logo redesign

  [1]Nib International Banken.wikipedia.org

  Nib introduced a new logo designed by StudioNet.

• 1999

  Establishment and licensing

  [1]Nib International Banken.wikipedia.org

  Nib International Bank was established on 26 May 1999 under license LBB/007/99 and Ethiopia’s Proclamation No. 84/1994, with 717 shareholders.

• 1999

  Commercial operations begin

  [1]Nib International Banken.wikipedia.org

  The bank began operating on 28 October 1999 with 27 employees.

A private Ethiopian commercial bank combining conventional branch banking with card, ATM, mobile-payment, and online-payment services.

• Payment card · 2015

  VisaCard

  Nib’s VisaCard service was launched in August 2015. It was intended to give customers, including foreign nationals and tourists in Ethiopia, access to card-based payments through the Visa network.

• Online payment service · 2024

  Prepared Mastercard

  Prepared Mastercard was launched in December 2024 in collaboration with Mastercard. The service was presented as an online payment solution supporting mobile banking and digital transactions across Nib’s branch network.

• Digital payment application · 2025

  Nib Amber Pay

  Nib Amber Pay is one of two digital payment applications introduced by Nib International Bank in February 2025. The supplied reference identifies it as part of the bank’s expansion into digital payments but does not provide further technical or feature specifications.

• Digital payment application · 2025

  Nib Paystream

  Nib Paystream is a digital payment application introduced by Nib in February 2025 alongside Nib Amber Pay. Detailed information about its target users and functionality is not provided in the supplied reference.

• Self-service banking

  ATM services

  Nib provides ATM access as part of its physical banking infrastructure. In 2020, the bank obtained 270 ATMs with support from Moti Engineering, expanding the availability of self-service transactions.

• 2025

  Add two digital payment applicationsProduct launch

  Background

  The bank continued moving toward mobile and digital payment channels.

  Action taken

  Nib introduced Nib Amber Pay and Nib Paystream on 3 February 2025.

  Aftermath

  The applications broadened Nib’s documented digital-payment offering; detailed adoption results are not available in the supplied material.

  Source

• 2024

  Launch Prepared MastercardProduct launch

  Background

  Nib sought to strengthen online and mobile payment capability.

  Action taken

  On 5 December 2024, Nib launched Prepared Mastercard in collaboration with Mastercard.

  Aftermath

  The launch added a Mastercard-linked online payment service to Nib’s card and digital-banking portfolio.

  Source

• 2020

  Expand automated banking accessStrategy

  Background

  Nib continued developing its physical distribution infrastructure and self-service access.

  Action taken

  The bank obtained 270 ATMs with support from Moti Engineering.

  Aftermath

  The transaction increased the bank’s documented ATM infrastructure, although the supplied material does not quantify subsequent usage or coverage.

  Source

• 2015

  Enter VisaCard servicesProduct launch

  Background

  The bank sought to improve payment-card access in Ethiopia, including for foreign nationals and tourists.

  Action taken

  Nib launched VisaCard services from 24 August 2015.

  Aftermath

  The launch expanded Nib’s services into international card payments.

  Source

• 2012

  Refresh the corporate visual identityStrategy

  Background

  Nib updated its public brand identity during a period of institutional and service development.

  Action taken

  The bank adopted a new logo created by StudioNet.

  Aftermath

  The redesign became the documented visual identity milestone for the bank; no further measured impact is provided.

  Source

1. 1Nib International Banken.wikipedia.org