- March 27, 2020
- Posted by: Berhan
- Category: News
Berhan Bank Removes Commission Fees, Donates 3m Br -Addis Fortune
March 26 , 2020
Berhan Bank has removed the commission fees it charges when importers extend letters of credit (LC) and reschedule loans, effective today, March 26, 2020.
Aimed at assisting businesses that will be affected by the spread of the Novel Coronavirus (COVID-19), the two fees are waived for the coming two months, according to Abraham Alero, president of Berhan, which made older and pregnant employees stay home for two weeks.
Last week Dashen and United banks took the same fee measure. United has cut the commission fee on a one-period extension request for three months by half, while Dashen fully and partially waived commission fees on automated teller machine (ATM) transactions, as well as validity extensions on letters of credit (LC) and purchase orders.
The Bank has increased the maximum cash withdrawal from ATMs to 10,000 Br with the main aim of decreasing the physical interaction of customers at branches.
It also donated three million Birr to the Ministry of Health – the fourth financial institution to contribute to the Ministry’s effort in fighting the virus. So far, Commercial Bank of Ethiopia (CBE), United Bank and United Insurance have donated 10 million Br, five million Birr and three million Birr to the Ministry.