Shareholders of Geez Bank, a private commercial bank under formation, have merged their holdings with Lion International Bank following approval from the National Bank of Ethiopia (NBE) on August 25, 2025.

Established in 2020, Geez Bank faced delays in launching operations due to internal disputes among founders and disruptions from the northern conflict. The bank resumed share sales in April 2023, aiming to raise half a billion birr within a month, and by early 2025 had secured approximately 610 million birr from 12,200 shareholders, against a subscribed capital of 2 billion birr.

Persistent disagreements over the bank’s future led some stakeholders to consider alternatives, including conversion into a microfinance institution, investment bank, or insurance company. Lion International Bank’s offer to absorb the shareholders provided a path to consolidation, including share purchases at par value, potential non-collateralised loans, and employment for select staff.