On February 15, 1996 90 years to the day after the now-defunct but historical Bank of Abyssinia was officially established by Emperor Menelik, the new Bank of Abyssinia (BOA), which shares nothing with the former one but its name, was established. The new Bank Of Abyssinia had, of course, a humble beginning, in that its shareholders numbered only 131, its workforce 32 and had only one branch. Furthermore, its subscribed capital was only Birr 25 million, and its authorized capital Birr 50 million, whereas its paid-up capital was just Birr 18 million.