It was a private bank whose shares were sold in Addis Ababa, New York, Paris, London, and Vienna.

The bank opened numerous branches including ones in Harar (1906), Dire Dawa (1908), Gore (1912), and Dese (1920).

The establishment of the new organization was aided by U.S Department of State emissary, Earle O. Latham, who was the first Vice President of the Federal Reserve Bank of Boston.

The proclamation raised the bank's capital to 10 million Ethiopian Dollars and granted broad administrative autonomy and juridical personality.

99 of 1976 came into force in September 1976 to shape the bank's role according to the socialist economic principle that the country adopted.

38 imported goods were prohibited such as liquors, automobiles, furniture, foods among others unless they register to national banks to approve accessing the foreign currency.

The restriction includes Ethiopian birr more than 3,000 and US dollar, applied to foreign nationals living Ethiopia to any countries, except Djibouti.