CBE Earns over 17 Billion Birr Profit this Year


CBE Earns over 17 Billion Birr Profit this Year
CBE Earns over 17 Billion Birr Profit this Year

The Commercial Bank of Ethiopia (CBE) has announced that it has made 17.9 billion Br gross profit in the fiscal year 2018/19 as it pushes the limits by rapidly increasing its depositors and branches.

This was revealed during a performance evaluation meeting held on August 16, 2019, at Africa Union Hall, Addis Ababa.

According to the bank’s president reaching more than 1571 branches throughout Ethiopia, the total asset of the bank is now 721 billion birr.

With respect to foreign currency earning, CBE has collected USD 6.3 billion from remittance, export, and other sources, and this is 96 percent of the target.

Currently, CBE has more than 20 million account holders and the number of Mobile and Internet Banking users also reached more than 1,736,768 as of June 30th, 2018. Active ATM cardholders reached more than 5.2 million.


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Solomon Yimer

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