Dashen Bank stands with businesses, customers in these difficult times


One of the first private banks in the country, Dashen Bank, passes decision to mitigate the effect of the coronavirus on the economy, customers and staff.
The company has announced on Thursday that businesses are directly and indirectly affected because of the outbreak of coronavirus, which WHO declared a global pandemic.
Due to that to mitigate the social and economic damage related with the virus the bank stated that as a corporate social responsibility running a responsible business, Dashen Bank considers challenges and hardships that its customers are facing and decided to readiest some of its usual activities.
Asfaw Alemu, President of Dashen Bank, told Capital that as a responsible body the bank has passed several decisions.
“We are working our part to contribute on tackling the latest challenge the country and the world in general faces. We may have also further mitigation strategy based on the condition of the outbreak,” he said.
He said that precaution measures are the priority for the time being and will take several protection actions at all branches and points of ATM that the bank manages.
Furthermore the bank has doubled the daily cash withdrawal on VISA and IFB ATM cards to 10,000 birr from the previous 5,000 birr. “We made this to minimize customers visit to the bank branches that contributes on the limitation of movements, which one of the major reason to expand the virus,” Asfaw said.
The Bank has also waived the ATM transaction fee, Extension commission fee in the course of extending the validity of LCs, 50 percent commission fee in the course of extending the validity of purchase orders, and Re-Negotiation fees on loans and advances for a period of 60 days effective from tomorrow Monday March 23.
The president stated that the period and other further decision will be seen in the future, while the cost of the decision would be known based on the stated time frame or in the future.
Asfaw said that the bank has already annulled several meetings and trainings aiming to contribute for cutting the mass gathering.