CBE Earned Profit of 13.4 billion Birr in 9 Month Evaluation

Commercial Bank of Ethiopia (CBE)’s Profit

Commercial bank of Ethiopia, the bank that you can always rely on, has been earned 13.4 billion birr profit during the last nine months.

This news has been announced by the bank president Mr. Abie Sano at the nine-month performance evaluation meeting held in Addis Ababa.

One of the predominant banks operating in Ethiopia is the Commercial Bank of Ethiopia, aka CBE. Way before its establishment, the bank was under the State Bank of Ethiopia, which was founded in 1942. That led the way for CBE to be founded separately in 1963, before its unification with the, back then, Addis Ababa Bank in 1974.

Generally CBE achieved 64 percent of their goal, Mr. Abie Sano stated that he has no words to explain and he hasn’t reported such history throughout his bank career life.

For this astonishing result to happen, one of the positive successes in the bank’s operation is its customer. according to their plan, they have achieved 85 percent of  its goal.

The Number of Account Holders in Commercial Bank of Ethiopia (CBE)

The Commercial Bank of Ethiopia has more than 22 million account holders who can be entertained by a number of services. With money digitization in mind, the bank has now more than two and a half million internet banking users as of last year.

CBE is the first bank to introduce modern banking to Ethiopia. It was once the leading African bank with assets of 485.7 billion Birr as of June 30th, 2017. It now has over 1500 branches across the country and plays a significant role in the economic progress and development of the country.

Additionally, CBE is also the first bank to introduce Western Union Money Transfer Services in the country.

Currently, the bank is working with more than twenty money transfer agents like Atlantic International, Xpress Money, and Money Gram. In short, CBE has reliable and enduring relationships with internationally recognized banks across the world.

The Commercial Bank of Ethiopia has a well-built correspondent relationship with renowned foreign banks like Commerzbank A.G., Royal Bank of Canada, City Bank, HSBC Bank. It also has a SWIFT bilateral arrangement with more than 700 other banks throughout the world.

For further information, you can visit the following website https://combanketh.et/en/