The corona virus pandemic is affecting all of us. The only way to fight and win this challenge is by staying united. United Bank along with its staff members and management team has collaboratively contributed to support the fight against the virus spread.

 

In addition to the previously announced LC and CAD period extension fee reduction, loan restructuring & deferment of payments for affected sectors, Hibret bank has now revised its lending rates on loans and advances. The new lending rate reduction is made on loans and advances of affected sectors and shall be enforced from May 16th 2020 to August 15th 2020. The lending rate revision entitles a 25% interest rate reduction for severely affected sectors namely Floriculture, Hotel and Tour operators. Other sectors shall also be entitled for a 5% interest rate reduction during these three months period except those sectors that are already offered preferential rates.

 

While offering this 5% to 25% interest rate reduction, the Bank will forgo about 50 million birr during this three months interest cut period. But it is our strongest conviction that if we work with sincere unity and partnership, the abundance we shall reap and share tomorrow will take us to greatness.

 

Again, Hibret Bank is ready to stand by its clients in these trying times and share the imposed pressure.

United, We Prosper!