Commercial Bank of Ethiopia declares Close to 18bn birr Profit

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The Commercial Bank of Ethiopia (CBE) disclosed that it has earned 17.9 billion Birr profit during the concluded Ethiopian fiscal year. 

President and CEO of Commercial Bank of Ethiopia, Bacha Gina noted that the bank has attained commendable achievement during the budget year.

He further stated that CBE has mobilized a huge amount of deposit pushing its total deposit over 539 billion Birr.

Speaking about foreign currency earning, he said the bank has collected a total of 6.3 billion US dollars, including the transferred 2.1 billion USD it got from the National Bank of Ethiopia.

The foreign currency earned has been allotted to the private and government development projects, according to him.

With a view to becoming a world-class bank by 2025, CBE has embarked on broad-based activities, it was learned.

CBE has over 1,400 branches and 157 of them were opened during the last Ethiopian fiscal year.