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Ethiopia’s financial giant, the Commercial Bank of Ethiopia (CBE), invited potential bidders for the supply of 200 Automated Teller Machines (ATM) and 2,000 Point of Sales terminals (POS). Though it operates 58 ATM machines currently, bank officials say it has made all the necessary preparations to import 200 ATMs and 2,000 POS this year.

The bank plans to raise its number of accounts by 25 percent every year in its bid to mobilize deposits, mainly to finance government mega projects such as condominium housing projects. It also plans to install 100 new ATMs and open 150 additional branches equipped with modern banking IT infrastructure every year till 2015.
The bank’s core banking project started operation, connecting 34 of its branches in Addis Ababa in the first phase of its automation project last May. That has now increased to 200 branches. The automation project enabled over 1.5 million account holders to reach their account in real time. The bank has 3.9 million account holders.
The new IT infrastructure will also enable the bank to strengthen and extend its relations with credit card providers such as Visa and MasterCard as well as roll out new mobile and internet banking services. Thus, the bank’s customers will enjoy reduced waiting time and a greater choice in banking channels and services through its wider branch network across the country.
CBE has earned record high gross profits in the last Ethiopian budget year. It cashed in 7.9 billion birr gross profit while its gross revenue swelled to 11.5 billion birr. Its gross profit meant almost double of what it had cashed in as gross profit in the 2010/11 budget year; 4.2 billion birr and more than double of the cumulative gain of 14 private commercial banks operating in the country at present.
The existence of a huge non-banking population in rural parts of the country and the economic progress the country has registered in the last decade are fueling the bank’s success.
The total deposit of the bank has surpassed 122 billion birr as of July 08, 2012 showing 35.5 billion birr growth in the banks deposit mobilization capacity as compared to the 2010/11 budget year. It also disbursed close to 70 billion birr in loans while it has collected back 20.5 billion birr in the concluded Ethiopian budget year, surpassing its collection plan by more than 20 percent.
Working with more than 20 international money transfer agents, CBE has raked 4.9 billion USD into the country, mainly from export earnings and remittance. As compared to the previous fiscal year, the banks hard currency inflow increased by 800 million USD.   
CBE’s total assets have increased by 41 billion birr in the concluded Ethiopian fiscal year. Its assets climbed to a historic record high; 155 billion birr, up from 114 billion birr in the 2010/11 budget year. Its capital and reserve has reached 7.5 billion birr, up from 6.2 billion birr. It has 12,782 people on staff.
The bank branch network has reached more than 559. This makes the financial giant one of the most accessible bank in the country, by possessing more than 60 percent of the close to 900 total branch networks of commercial banks in the country.
CBE’s deposit mobilization capacity derives from its wide branch network. That enabled the bank to reach the unbanked communities in the country. It is cited as one of the driving forces behind the increased domestic savings of the country. Ethiopia’s domestic savings has increased from 5.2 percent of the GDP to 8.8 percent in the last two years.