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The state owned Commercial Bank of Ethiopia (CBE) reveals that it has increased its deposit by 16 billion birr in the first half of this fiscal year landing on a total deposit of 209.2 billion birr. The bank collected USD 2.9 billion dollars from all its branches in the stated period.
In the stated period CBE gave loans totaling to 31.8 billion birr for different developmental projects that are integral to the nation’s development.
The bank’s operation increased in volume after the bank connected many branches with the T-24 Core Banking Solutions System, which enable CBE to give good service in a shorter time. At present, 764 branch offices and four main bureaus of CBE are interconnected with the T-24 Core Banking system.
The bank has also installed an additional 597 Automatic Teller Machines (ATM) and 1,262 Point of Sell (PoS) to reach even more customers. The additional 77 new branches that started giving service in the past six months has increased the number of CEB branches throughout the country to 909.
Around 1.3 million customers opened new accounts in CBE during the six months which pushed the total number of depositors to 9.5 million people.
The novice non-interest banking service showed incremental growth every year as it serves 38,000 customers who deposit 491.9 million birr so far.
Another novice saving scheme that was started to encourage women to save attracted 208,000 clients who had deposited a sum of 1.95 billion birr. According to the report by CBE, the bank has 22,000 workers, of whom 4,058 are new.
In the fiscal year of 2013/14, the bank made 9.7 billion birr in gross profit. That year, 5.5 billion dollars from foreign exchange was collected.