Awash Bank

Package of Products and Services for High/Ultrahigh net worth Individuals (HNIS/UHNIS)

1. Background

The Bank has effectively segmented its customers into different major customer groups that reflect similar attributes among customers in each group. The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize value for each customer. HNIs/UHNIs is among these customer segments which has its  own specific product/service needs that the Bank regularly identifies and delivers appropriate products and serves to meet the gaps effectively.

2. Objectives

  • To provide exclusive and differentiated customized line of financial services that best address the needs HNI/UHNI clients;
  • Making the Bank the primary bank for these HNI customers.

3. Products and Services Proposed for its HNIs/UHNIs Customers

These new value propositions to HNI/UHNI;

  • The new value propositions are personalized and tailored solutions geared at meeting the unique needs  of the HNIs/UHNIs, who prefer personalized banking services
  • The Bank offers these products HNIs/UHNIs using its;
  • State of the art digital technology,
  • dedicated RMs
  • Other settings
  • These delivery approaches help to provide the services to clients who usually demand convenient, secured and faster services without compromising quality, by highly reducing the turnaround time.
  • The bank provides HNIs/UHNIs with a full spectrum of services, including specialized lending, deposits, foreign currency exchange services and other solutions.

4. Major Building Blocks AB’s Private Banking

4.1. Convenience

To provide HNIs/UHNIs comfort and simplicity;

  • Digital Banking Services allows clients secure and convenient access to their funds to transact from anywhere, anytime.
  • Door step banking services
  • Access to an Automatic overdraft limit/short term loan facilities on their special saving account
  • Access to Overdraft Protection facility

4.2. Exclusive and Differentiated

  1. Access to negotiated and preferential lending and deposit terms
  2. Access to preferential foreign currency needs

4.3. Personalized Services

  • Dedicated RM to identify their needs and give them services accordingly

5. Target Customers

The Individuals that meet the range of HNI/UHNI criteria defined by the Bank, including;

  • Salaried individuals,
  • self-employed professionals,
  • Expatriates of Ethiopian Nationalities,
  • Non-Resident Ethiopians and other similar customers
  • etc

6. Types of Products and Services offered by the Bank for HNIs/UHNIs

  • Credit Solutions
  • Other Value Propositions for HNI/UHNI
  • Cash/Cheque pick up/delivery from/at the customer’s doorstep.
  • Bank guarantees facility.
  • Priority Services at Branches
  • Delivery of incoming Swift facility at a convenient place and on demand.
  • Delivery of foreign currency for HNI/UHNI travelers at their convenience/premises
  • Dedicated Relationship Manager with various value propositions.
  • Welcome program for HNI back to home at airport and providing pick up services to and from airport,
  • Safe, Reliable and scalable digital channels banking services
  • Preferential/priority on Forex services for acceptable travel to abroad at spot selling rates.
  • Priority and easy access to bankers cheque/CPO and other instruments
  • Priority on available Safe box for rental

7. Online Banking Services

  • Clients can perform a wide range of banking activities via mobile phone or pc, including:
    • Access to 24/7 banking via online, ATM and mobile banking channels
    • Highly reduces the time required to visit branches
    • Quickly meet clients’ needs with convenience and greater accuracy.

8. Non-Financial Services to HNI/UHNI offered by Awash Bank

  • Dedicated RM
  • Advisory Services nonresident – HNI/UNHIs
  • Provide nonresident – HNI/UNHIs clients who plan to invest in Ethiopia information about
    • Advising on Debt or Equity Sources
    • Access to business workshops and seminars
    • A dedicated 24/7 call center for all queries.

9. Documentation Requirements 

For Salaried Individuals

  • Employment contract certificate that clearly depicts:
    • Employment status (Basis)
    • Service years and current monthly salary
  • TIN certificate and tax clearance certificate
    • Any evidence for additional income sources, if any.

For self-employed Professional

  • Renewed Professional License
  • Renewed Trade License where applicable.
  • TIN certificate
  • Tax Clearance Certificate,
  • evidence for supporting the annual income indicated, etc

For Expatriate of Ethiopian Nationals

  • Employment Confirmation Documents with valid Employment ID, that verifies;
    • Current salary of the employee
    • currency used in payment of salary
    • Duration of service contract in the country of assignment.
    • Valid Work Permit