Founded in August 2012 with a humble subscribed capital of 266.9 million Birr, Global Bank Ethiopia has embarked on a remarkable journey fueled by an unwavering commitment to innovation and exceptional customer service. Today, it proudly stands as a beacon of growth, with its paid-up capital soaring to 2.5 billion Birr and total subscribed capital reaching an impressive 5 billion Birr. It serves over 1.6 million customers through 235 branches across the nation, each one of them a vital part of its story.
“What sets us apart is our deep understanding that every customer is unique. Our customer-centric approach drives us to create tailored solutions that meet diverse needs. Take our “Golden Age” savings account, for example, which offers a competitive interest rate of 9%. This is not just a product; it’s a testament to our dedication to delivering real value to our customers,” shares the CEO, Dr. Tesfaye Boru Lelissa.
Global Bank Ethiopia (GBE) offers a wide array of both conventional and interest-free banking products. Its innovative services, like “save for assets” and specialized savings accounts—such as executive and driver saving reflect its agility in responding to customer demands. In a world increasingly driven by technology, it has developed digital solutions that enhance the customer experience, including a school fee payment system that simplifies transactions for parents. Its digital saving and credit products cater to the tech-savvy customer, ensuring that banking is convenient and accessible for all.
The Leader’s Journey
Dr. Lelissa’s professional journey in banking has been both enriching and transformative, shaped by a deep commitment to empowering individuals and communities through financial services. His career at the Central Bank gave him invaluable insights into the regulatory framework and the vital role that sound monetary policy plays in fostering economic stability. This experience ignited his passion for banking and solidified his belief in its potential to drive positive change. After his time at the Central Bank, he transitioned to commercial banks, where he explored various roles—from credit officer to strategic leadership. Each position deepened his understanding of the banking ecosystem and reinforced his desire to create accessible financial solutions that uplift people’s lives. Witnessing the direct impact of banking on communities fueled his dedication to this industry.
Since becoming CEO of Global Bank Ethiopia, Dr. Lelissa’s vision has been clear: to position the bank as a leader in excellence and innovation within the East African banking landscape. He is committed to fostering a culture that prioritizes exceptional customer service, operational efficiency, and technological advancement. His goal is to ensure that every Ethiopian has access to the financial tools necessary to thrive and succeed. He envisions GBE as not just a financial institution, but a catalyst for empowerment and growth. By embracing innovation and expanding its services, he aims to redefine banking—making it more accessible, inclusive, and impactful for all.
Strategies for Growth and Success
At Global Bank Ethiopia (GBE), the growth and success are driven by a visionary approach and a steadfast commitment to excellence. By thoroughly analyzing the national economy and banking landscape, the core team crafts strategies that align with its ambitious goals, allowing it to navigate challenges and seize new opportunities with confidence.
Innovative resource mobilization is at the heart of GBE’s strategy. By diversifying its offerings, it boosts profitability and minimizes costs, optimizing operational efficiency. This dual focus ensures sustainable growth and strengthens its competitive edge in a rapidly evolving industry. In today’s fast-paced financial landscape, GBE harnesses the power of innovation and digitalization. Its commitment to cutting-edge technology enhances customer experiences and streamlines operations, positioning it at the forefront of the banking revolution.
Exceptional customer service is central to GBE’s success. Every interaction is seen as an opportunity to build trust and loyalty. Its dedicated team goes above and beyond to provide personalized and responsive service, continuously refining its offerings based on customer feedback to exceed expectations. Its rebranding efforts aim to deepen connections with its customers, reflecting its dedication to excellence and community values.
Community engagement is fundamental to the bank’s mission. Through social responsibility initiatives, it strengthens its ties with the communities it serves. Investing in local development contributes to societal progress and builds trust and loyalty among its clients, creating a positive impact.
“With these strategies—focused on innovation, digitalization, and exceptional service—I am confident that Global Bank Ethiopia is poised for sustained growth and success. We invite everyone to join us on this promising journey toward a brighter future for our customers and communities,” says Dr. Lelissa.
A Rewarding Journey
For Dr. Lelissa, the most rewarding part of his journey with Global Bank Ethiopia (GBE) is witnessing the profound impact the bank has on its customers and communities. Every day, he is inspired by stories of resilience and hope from the partnerships.
Seeing the team’s commitment to financial inclusion transform lives is incredibly uplifting for him. Providing local entrepreneurs with micro-loans is about unlocking potential, igniting dreams, and enabling individuals to create businesses that generate jobs and uplift communities. This role fills him with immense pride and purpose.
The team’s dedication to excellence and innovation drives them to enhance services and expand GBE’s reach. They’ve embraced technology to make banking more accessible, and seeing their customers thrive as a result is incredibly rewarding. Each positive interaction reinforces their mission.
“Knowing that we are not just a bank, but a trusted partner in our customers’ financial journeys, is the greatest reward. As we grow, I am excited about inspiring and uplifting more individuals across Ethiopia. Together, we are building a legacy of hope, resilience, and progress,” remarks Dr. Lelissa.
Striving for Ethiopia’s Economic Development
At Global Bank Ethiopia, Dr. Lelissa and his team see themselves as more than just a financial institution; they are a catalyst for Ethiopia’s economic transformation. Their mission is to empower communities and drive progress by supporting diverse sectors and activities across the nation. Through efficient resource allocation, they collect savings from individuals and businesses and channel these funds into productive investments. This approach stimulates economic activity and creates meaningful employment opportunities, uplifting lives and fostering prosperity.
Aligned with GBE’s core value of “Giving Back to the Community,” they are dedicated to promoting financial inclusion. GBE offers accessible savings and credit options, along with a variety of financial products designed to empower underserved populations. Its goal is to ensure everyone has the tools they need to thrive and contribute to their communities. It takes immense pride in creating over 3,000 employment opportunities, providing a launchpad for fresh graduates eager to make their mark. GBE’s comprehensive training programs enhance their professional skills and elevate financial literacy, preparing them to play an active role in the nation’s economic advancement.
Recognizing the importance of small and medium enterprises (SMEs) in driving job creation and economic growth, GBE offers tailored lending solutions that empower these businesses to innovate and expand. By supporting SMEs, it enhances overall economic productivity and stability, reinforcing its commitment to fostering an entrepreneurial spirit. Additionally, it forges strategic partnerships with key manufacturing firms to bolster the productive sectors of the economy, promoting macroeconomic stability and growth.
“Global Bank Ethiopia is on a transformative journey, and we invite everyone to join us. Together, we are investing in a brighter, more prosperous Ethiopia for all. The road ahead is filled with possibilities, and we are excited to lead the way,” exclaims Dr. Tesfaye Boru Lelissa.
Nurturing a Growth Mindset
In today’s competitive banking landscape, a culture of continuous improvement and innovation is essential. Global Bank Ethiopia (GBE) is committed to nurturing this culture through transformative strategies.
Visionary leadership is at the core of this approach. The leaders, including Dr. Lelissa, ignite passion and creativity within every team member, empowering them to embrace change and seek innovative solutions. This fosters a sense of ownership and drives initiatives that propel GBE into the future.
The management prioritizes robust training and development programs, understanding that knowledge is power. Equipping employees with cutting-edge skills and industry insights creates a competent and inspired workforce ready to innovate. Empowered and informed team members become catalysts for transformative change.
GBE’s customer-centric philosophy further fuels innovation. It actively seeks and embraces customer feedback through satisfaction surveys and product evaluations. By placing customers at the forefront of everything it does, it designs products and services that exceed their evolving needs, keeping GBE relevant in a constantly changing world.
Collaboration is another cornerstone of GBE’s culture. Open communication and free exchange of ideas across departments is encouraged, fostering an environment where creativity can flourish. By promoting teamwork and recognizing employee contributions, a vibrant atmosphere ripe for innovation is cultivated.
Engaging with the external environment is equally important. GBE seeks partnerships with fintech companies, startups, and innovative organizations, ensuring it remains at the industry’s cutting edge. Participation in conferences and networking events enriches the team’s understanding and approach.
“By embedding these strategies into our organization, we celebrate continuous improvement and innovation. At Global Bank Ethiopia, we are not just adapting to change; we are leading the way, building a legacy of innovation that empowers customers and communities,” emphasizes Dr. Tesfaye Boru Lelissa.
Adapting Digital Transformation
At Global Bank Ethiopia, digital transformation is more than a strategy; it’s the bank’s vision for the future of banking. The bank is enhancing service delivery, enriching customer experiences, and improving operational efficiencies in today’s fast-paced financial landscape. Recognizing the pivotal role of technology, the management has made significant investments in advanced digital solutions to optimize operations and cater to a tech-savvy clientele eager for innovation.
One of GBE’s notable achievements is the successful upgrade of its core banking system, unlocking new value for its customers and operations. This upgrade enhances the customer experience, creating a seamless and user-friendly banking environment. It has also refreshed its infrastructure and deployed the Oracle Banking Digital Experience (OBDX) platform, positioning itself as a leader in digital banking.
To align with its forward-thinking vision, GBE has invested heavily in enhancing its in-house digital capabilities and fostering partnerships with leading technology providers. Its collaboration with Fintech has introduced innovative digital saving and lending products tailored to modern needs.
Dr. Tesfaye Boru Lelissa and his team are excited to launch a self-service Digital Banking Center, further solidifying GBE’s position as a customer-centric institution. This initiative will empower clients to manage their banking needs with ease and convenience.
“We prioritize trust in the digital realm, working closely with regulatory frameworks to ensure compliance and foster confidence in our digital offerings. We are embracing digital transformation with enthusiasm and vision, paving the way for a brighter, more innovative future in banking where our customers can thrive in an ever-changing landscape,” shares Dr. Tesfaye Boru Lelissa.
Digital Banking’s Impact on Customer Satisfaction
At Global Bank Ethiopia, digitalization is a transformative journey to elevate customer satisfaction. It’s about creating meaningful, user-friendly experiences. Its digital banking services have already welcomed over 400,000 subscribers and seen transactions exceed 3 billion Birr in just one year.
GBE’s commitment to innovation is evident in its partnerships with fintechs offering Digital Finance options. These collaborations have introduced groundbreaking digital products, including essential micro-lending services, driving financial inclusion across Ethiopia. By enhancing accessibility, it is not just meeting customer needs but exceeding their expectations and enriching their lives. By focusing on impactful digital solutions, it nurtures deeper connections with its clients. Every interaction is an opportunity to inspire trust and loyalty, positioning GBE for sustainable growth.
Ensuring Security and Privacy
Protecting customer data is a core promise at Global Bank Ethiopia. Its commitment to safeguarding sensitive information is unwavering, and it takes proactive steps to ensure that customers feel secure.
GBE has a dedicated IT system security unit to fortify its technological infrastructure. This team constantly enhances our security measures to stay ahead of potential threats. GBE strictly adheres to the National Bank of Ethiopia’s regulatory standards, reflecting its deep commitment to customer safety.
GBE collaborates with leading organizations to integrate advanced security measures, crafting robust security agreements that protect its customers. Stringent access controls ensure that only authorized personnel can access sensitive data. With role-based access and strong authentication processes, it creates a fortress around its customers’ information.
Regular security audits identify vulnerabilities, allowing the team to resolve issues proactively and maintain the highest security standards. GBE’s culture of continuous improvement ensures vigilance is the norm.
“We also invest in our people with regular training on data protection, phishing awareness, and password security. Empowered employees become the first line of defense against breaches, strengthening our security culture,” shares Dr. Tesfaye Boru Lelissa.
Promoting Financial Inclusion
Global Bank Ethiopia views financial inclusion as a fundamental right. In a country with limited access to financial services, it is dedicated to breaking down barriers and empowering underserved communities. Its mission is to equip every Ethiopian with the tools they need to thrive.
GBE focuses on micro-financing and SME lending, providing micro-loans and tailored credit options for small businesses and individuals in underserved regions. These financial products enable local entrepreneurs to pursue their dreams, create jobs, and invigorate their communities. By investing in these individuals, it fosters economic growth and resilience.
“We are expanding our branch network, particularly in rural areas, to ensure everyone has access to vital financial services. This initiative is about more than convenience; it’s about ensuring every Ethiopian can participate in the financial system and secure their future,” says Dr. Tesfaye Boru Lelissa.
Embracing mobile banking technology, GBE develops innovative digital products, including micro-savings and lending services, to empower individuals in remote areas. Its upcoming Smart Banking Centers will offer 24/7 access to digital banking services, providing a seamless and convenient way for customers to manage their financial needs.
In the Offing
Global Bank Ethiopia is on the verge of transformative advancements to elevate the banking experience and expand its services meaningfully. Enhancing its digital banking platforms is a key focus. As digital banking evolves, it is committed to leading the charge with improved online and mobile banking services, introducing features that make banking easier and more secure, and ensuring customer transactions are safe and efficient.
Recognizing the diverse needs of its clientele, GBE is expanding its product offerings, including innovative new products and enhanced interest-free banking services. It plans to open more interest-free banking branches, ensuring financial solutions that resonate with its customers’ values. Accessibility is central to its mission, and GBE will continue to grow its branch network and increase the number of ATMs across the country.
Its commitment to corporate social responsibility drives us to give back to the communities we serve through various initiatives.
Vision Ahead
Dr. Tesfaye Boru Lelissa shares that the vision at Global Bank Ethiopia is to become the top-rated bank in East Africa by 2035 through operational excellence. This commitment extends to the customers, communities, and future. The team believes that by striving for greatness, they can transform the banking landscape in Ethiopia and beyond.
GBE’s strategic pillars guide this journey, with unwavering dedication to service excellence at the forefront. It aims to provide reliable products and services at competitive prices, ensuring seamless and rewarding customer experiences. Streamlining processes and enhancing operational efficiency create moments of delight for its customers. Technology is a cornerstone of its strategy. By harnessing advanced information technology, it enhances efficiency and elevates customer service. GBE’s expansion into digital banking services makes banking more accessible and convenient.
“We focus on building a strong, capable team, our greatest asset. Through effective human resource management and continuous development, we equip our team with the skills needed to achieve our ambitious goals. Expanding our branch network, increasing our customer base, and diversifying product offerings are key to providing tailored solutions and strengthening business partnerships. We actively participate in Ethiopia’s emerging capital market, positioning ourselves as leaders in financial innovation. By prioritizing operational excellence and strategic advancements, we aim to drive sustainable growth and create exceptional value for our stakeholders,” concludes Dr. Tesfaye Boru Lelissa.
A Quote to Live By:
“Every challenge is a stepping stone to greatness.”
This simple yet powerful mantra reminds me that obstacles are not roadblocks; they are opportunities for growth and transformation. In my journey at Global Bank Ethiopia, I’ve encountered numerous challenges, each one teaching me valuable lessons and pushing me to innovate. This quote inspires me to embrace difficulties with a positive mindset, knowing that they are essential to our evolution as individuals and as a bank. When we face challenges head-on, we build resilience and discover new pathways to success.
This philosophy extends to our work with customers and communities. We strive to empower others to see their own challenges as stepping stones, encouraging them to pursue their dreams with courage and determination. By fostering a culture of support and innovation, we can uplift one another and create a brighter future together. Ultimately, this quote embodies the spirit of perseverance and hope. It reminds me that greatness is not simply a destination but a journey, marked by our ability to rise above challenges and inspire others along the way.
Quote: “At Global Bank Ethiopia, we are not just building a bank; we are nurturing a future where every individual has the opportunity to thrive.”
Quote: “Together, we are shaping a brighter economic landscape for Ethiopia, and we invite everyone to be part of this inspiring journey.”
Quote: “We empower local entrepreneurs and uplift communities through our socially responsible community development loans.”
Quote: “We aim to expand our digital banking services and continue to innovate to meet the evolving needs of our customers.”
Quote: “By investing in our people and embracing cutting-edge technology, we believe we can offer even more personalized and impactful banking solutions.”
Quote: “At Global Bank Ethiopia, we are leading the charge in digital transformation with passion and purpose, crafting a future where banking empowers and inspires.”