The history of Development Bank of Ethiopia goes back to 1909 when the first attempts of its kind known as The Societe Narionale d' Ethiopie Pour le Development de l' agriculture et de Commerce (The Society for the promotion of Agriculture and Trade) was established in the Menelik II era. Since then the Bank has taken different names at different times although its mission and business purpose has not undergone significant changes except for occasional adjustment that were necessitated by change in economic development policies of the country.

The under listed names and periods are its predecessors since initial establishment: -

•  Agricultural and Commercial Bank of Ethiopia from 1949-1951

•  Development Bank of Ethiopia 1951-1970

•  The Ethiopian Investment Corporation Share Company from 1964-1970

•  Agricultural and Industrial Development Bank Share Company from 1970-1979

•  Agricultural and Industrial Development Bank from 1979-1994

•  Development Bank of Ethiopia from 1994-2003.

• Development Bank of Ethiopia (after reestablishment from 2003 till now)