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The Commercial Bank of Ethiopia (CBE) has grossed a whopping and record-setting profit of over 3.7 billion birr during the first half of the current Ethiopian budget year, a senior official of the bank told The Reporter. The gross profit earned has not only well exceeded the bank’s performance for last year during the same period but it also has surpassed the target, according to the official. The bank’s half-year performance is even somewhere close to what it grossed in one year last year where the bank made a 4.2 billion birr profit before tax.
According to the official overseeing the overall operational performance of the bank, CBE mobilized loans and savings in the form of tens of billions of birr during the first six months of the fiscal year, which also exceeded the target.
(The Ethiopian Reporter)