Hibret Bank is a reliable bank with a strong capital base, healthy loan portfolio, and well-experienced management team. The Bank avails a wide range of credit products/services so as to satisfy its customer needs in line with the credit demands of the economy.
Types of Loans Provided by Hibret Bank
- Term loan
- Overdraft
- Letter of credit
- Merchandise loan
- Pre-shipment
- Advance on Import
- Trade Bill discounting
- Syndicated loan
- Letter of Guarantee
- Personal/Consumer loan
Collateral
The bank entertains the following types of assets as collateral
- Buildings (Residential, commercial, Factory),
- Motor vehicles (Trucks and trailers, Tankers, Buses, Dump Trucks, Automobiles),
- Construction Machinery and Equipment,
- Business Mortgage,
- Cash Deposits (C/A, S/A, CDs),
- Merchandise (against Physical pledge, MDSE In transit, Warehouse receipts & Against stock list)
- Negotiable Instruments (Treasury bills, Government bonds, Cash surrender values of Life Insurance Policy)
- Share Certificates,
- Guarantees (Bank Guarantee & Personal Guarantee),
- Government guarantee
Beneficiaries of Credit Facility
facilities. The bank also entertains different types of personal loans for Individuals, NGOs, Diasporas, Big Depositors, High-value customers, MSMEs, etc. The bank extends credit in the following major business lines:
- Agriculture sector
- Domestic Trade
- International Trade
- Manufacturing sector
- Service Sector
- Transport Sector
- Construction Sector
- Hotels & Tourism
- MSME
Points to Take Note in the Lending Process by Customers
Customers Should Satisfy the Following Criteria
- Open accounts in the branch where the credit would be requested.
- Fill an application form mentioning the objective and the amount of the credit.
- Supplement a renewed trade license and other relevant licenses.
- Memorandum and articles of association for businesses with legal personalities.
- Profile of management members
- Business plan.
- Businesses with legal personality should submit audited financial statements preferably done by external auditors
- Financial statements showing the business and financial position.
- Balance Sheet.
- Income Statement.
- Cash flow statement
- Other relevant documents as deemed necessary by the Bank and NBE.
Obligation of Debtor
- Providing the bank with accurate information on their business.
- Requesting and enjoying the amount of loans only to the extent of the requirement of their business.
- Paying the periodic repayment installment regularly as per the agreement
- Using the loan to the intended purpose.
- Seeking for solutions jointly with the bank in case of difficulties to repay loan on time
