By Andualem Sisay
Two Ethiopian private banks, Dashen Bank S.C. and Zemen Bank S.C, today (September 22, 2010) announced linking up of their ATM networks.

The customers of one bank will be able to fully utilize the ATMs of the other bank. This will allow Dashen Bank customers to have the ability to withdraw cash from Zemen Bank ATMs, while Zemen Bank customers will similarly have access to their accounts at all Dashen Bank ATMs.

The agreement means that customers of the two banks will have the benefit of accessing a combined network of 80 ATMs across the country, newbusinessethiopia.com reported.

Both Banks have also agreed to collaborate on the provision of VISA card services, allowing all Zemen Bank ATMs to be able to process internationally issued VISA labeled debit or credit cards, as is already possible with the Dashen Bank ATM network.

The collaboration between the two banks is in line with the efforts that are being made by the Ethiopian Bankers Association to establish a National Switch System in the near future.

As the number of banks in the country increasing and observing different banks ATM in key hotels and spots in the country has become common. The partnership between the two banks expected to save resource of the country including foreign currency the banks spend for importing the machines.

Currently, Dashen Bank has deployed 55 ATMs, while Zemen Bank is deploying 25 ATMs across various locations in Addis Ababa and major cities outside Addis Ababa.

Lulseged Teferi, President of Dashen Bank S.C. Dashen Bank is quoted as saying: “By joining forces, we believe that we will provide even more convenience to our customers while providing technologically-driven banking services.

The Bank is one of the largest private banks in Ethiopia, operating 58 branches. As principal member of VISA, Dashen Bank became a VISA card issuer and acquirer in Ethiopia since 2004. It has also started acquiring MasterCard as of 2008.

Zemen Bank was founded in October 2008 with a distinctive business model that is based on a single branch whose activities are to be supplemented by multiple service points such as ATMs, POS terminals, Online Banking and Kiosks.

Dashen Bank Share Company, the giant private bank in the country next to the state-owned Commercial Bank of Ethiopia in terms of market share, is founded in 1995 and has now 58 branches in the country.

Prior to the deal between Dashen and Zemen, Awash International Bank S.C., Nib International Bank S.C., and United Bank S.C. have signed a memorandum of understanding in February 2009 to launch common ATM (Fettan ATm), they haven’t be able to realize their agreement so far.

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