Commercial Bank of Ethiopia announces improvement on its loan interest rate
The Commercial Bank of Ethiopia Loan Interest Rate Improvement Announcement. Better known as CBE, has increased the interest rate it has been using for years.
The Commercial Bank of Ethiopia (CBE) has announced a similar price adjustment on international banking services. The Bank has announced that it will implement the price adjustment on all its services.
According to the bank, the price of most of its services has increased by no more than one percent, but the interest rate has been divided according to the type of loan and the interest rate has risen.
More on Commercial Bank of Ethiopia Loan Interest Rate Improvement
The Commercial Bank of Ethiopia (CBE) still has the lowest rate in the industry.
He also said that the government has announced a price increase of less than one percent for most services in order to make small adjustments to low or free services and bring them closer to the market.
To encourage exports, however, export-related loans have reportedly reduced interest rates, as well as the cost of foreign exchange to supply government-supplied drugs.
The Commercial Bank of Ethiopia (CBE) has a capital of 49.6 billion birr. The total number of branches reached 1,825.
In addition to the Commercial Bank of Ethiopia Loan Interest Rate Improvement, the bank reported a pre-tax profit of 3.1 billion birr in the first quarter of 2013, a significant decrease compared to the same period in 2012. In the first quarter of 2012, the pre-tax profit was 6.1 billion birr.