Enat Bank announced interest fees waive in consideration of Coronavirus situation

Enat Bank Head office, Addis Ababa. Photo credit : Enat Bank FB

borkena
Business News
May 14, 2020

Enat Bank, one of the private banks in Ethiopia, announced on Thursday interest payment waive after considering the economic impacts of the Coronavirus.

According to Fana Broadcasting Corporation (FBC), businesses in the tourism sector are relieved from paying service charges and interest rate payments for money borrowed from the bank. The decision will be in effect between the months of May and July.

Service charges for overdraft renewal and late loan payments penalties, among others, are temporarily canceled for the duration of the period mentioned above. 

The bank has also made some adjustments for international Banking. Letter of Credit service charge is waived. Importers that import goods related to COVID 19 will get a 50 percent discount in the service charge and commission payment, as reported by FBC.

Furthermore, Eant Bank has donated 2 million birr to the national COVID 19 prevention support coordination committee.



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