Dashen Bank to Import Latest ATMs

Dashen Bank is in the final stages of allowing its customers enjoy using the latest dual outlet Automatic Teller Machines (ATMs). Unlike the former ATMs which are used only to withdraw cash, one of the latest machines that the bank has ordered, can also be used to deposit cash and checks. The other machine can be used to convert currencies. This is because the machines have dual outlets. One of the outlets has a sensor attached to it which helps deposit checks and cash; while the other can be used to manage exchange of currencies. The bank plans to make the two machines operational this year.

The bank has already ordered an American based technology supplier, which it refrained to disclose, to supply two of the newest ATMs. The bank has refrained from disclosing the cost of the machines as well.“This will affect our work when we float tenders in the future for purchase of similar machines”, Chanyalew Demissie, Deputy Manager of the Payment Card Department of the Bank said while explaining why they refrain from disclosing the cost of the machines to Ethiopian Business Review.

Dashen is planning to import a single unit from both types of self serve ATMs, (currency converter and cash depositor) for trial. The Bank has employed a consultant from England who can assist the effective use of the machines while on trial. The Currency Converter ATM will be used to exchange Dollars, Pounds, and Euros into birr. It is not possible to change birr into other currencies. In addition to the latest self serve ATM, the bank is importing 25 common ATMs which have single outlets. This will increase the bank’s ATMs to 130. Dashen Bank has currently 756 point of sale terminals, 105 ATMs and a little over 220,000 Visa Card holders.

In addition to the service of Visa Card, which other banks such as Wegagen and Commercial Bank of Ethiopia provides; Dashen has been the sole service provider for Master Card, Maestro and Union Pay cards. At the end of the last fiscal year it generated 87.2 million dollars from these international cards. This shows 16.3pct increase from its 2010/11 performance, according to Dereje Gizaw, Customer Service Officer with the Bank.

Operating with 3,150 employees and 83 area banks, Dashen has registered a record gross profit before tax of 893 in 2011/12. This shows a marked growth compared with the 630 gross profit of the previous year.