The Bank of Abyssinia Future Head Quarters Construction Project has been formally initiated by an International Competitive bid floated in December 2020 and awarded to China State Construction Engineering Company after in-depth negotiation on the contract terms.
Today’s signing sets a significant milestone in the history of the Bank of Abyssinia. Bank of Abyssinia, which is named after the pioneer bank of the land, is one of the few private banks, established in 1996.
The name Abyssinia, which is also the name of ancient Ethiopia, reminds us of Ethiopia’s age-old civilization and cultural heritage. Our bank has chosen to be associated with this name, thus, reaping wider acceptance by the public. Bank of Abyssinia stands second-largest bank among the 20 private banks operating in the Ethiopian Banking Industry in parameters of Assets, Deposits, and Profitability.
The bank is stepping up to reach its vision of becoming the leading commercial bank in East Africa; with enablers like the growth of the Ethiopian economy, untapped market potentials for financial services, and the latest positive trend in new innovations and digital transformation. The bank also leverages the value discipline of “Operational Excellence” bringing about efficiency and effectiveness in reaching out to the mass market. Operating in the banking business for 26 successful years, Bank of Abyssinia owns a total asset of USD 2.7 billion and an average yearly profit of USD 100 million. Bank of Abyssinia has more than 700 branches all over the country and avails 24/7 services through digital channels and Self-Service branches.
China State Construction and Engineering Corporation builds skyscrapers all over the world successfully handling more than six thousand projects in the international market and expanding its construction services in different countries. China State Construction and Engineering Corporation is also well remembered for constructing the African Union Conference center, NOC Headquarters, and the new Head Quarters of the Commercial Bank of Ethiopia in Addis Ababa. Bank of Abyssinia Future Headquarters buildings project is like a vertical city that fully meets the demands of all functions and gives visitors an extraordinary experience.
The tower building will be standing the tallest building in East Africa with a height of 270 meters above ground residing on a plot of 9700 meters square of land near Mexico square. The total built-up area of the Bank of Abyssinia headquarter complex is 174 thousand meter square. The main tower comprises a total of 60 floors (56 floors above ground and four floors underground). The underground functions mainly include a mechanical parking area, vault and equipment rooms, and vehicle lobby area. The sky garden is at the top of the tower building. The top of the tower building is also catering to the bank’s logo with a hollow glass curtain wall of diamond structure.
The building complex mainly includes an office, a podium which has nine floors above ground, lobby area, mall, cinema, and lecture hall. The building complex has also another block of 20 stories building above ground and two stories underground. Bank of Abyssinia headquarters building will become a landmark in Ethiopia, a new gathering and a focal point in Addis Ababa, and the most eye-catching night scene in the capital city. Today, we have concluded a historic contract on a historic project. The landmark, Bank of Abyssinia headquarter project will infuse additional vitality into Addis Ababa and bring tangible benefits to the bank stakeholders. It is our conviction, that with expertise and experience of China state Construction Engineering Company and unreserved support of Bank of Abyssinia management and project team, the Bank of Abyssinia headquarters will be built according to the contract and schedule.