Capital Ethiopia Newspaper

CBE earns 14 billion birr


The state financial giant, Commercial Bank of Ethiopia (CBE), amassed a 13.9 billion birr gross profit in the just ended financial year.

The bank has gone through aggressive expansion disclosed that its total asset has reached 384.6 billion birr in the 2014/15 fiscal year.

According to the statement that CBE sent to Capital that the total revenue stood at 27.2 billion birr.

In the 2014/15 fiscal year only about 47 billion birr was deposited at CBE, which boosted the total savings amount to 288.5 billion birr.

The statement indicated that CBE has pumped almost 92 billion birr in loans for different development sectors.

The bank, which is one of the hard currency mobilizers in the country, has earned USD 4.7 billion and supplied USD 6.8 billion for different import items.

In the fiscal year 84 new branches opened in addition to 88 branches of Construction and Business Bank who merged with CBE in the past fiscal year. There are now 1,136 total branches.

In terms of ATM card availability the bank has registered 100 percent growth. According to the statement there are now 2.8 million ATM card holders.

The number of ATM and pos machines has reached 889 and 6,269 respectively.

The total CBE bank book holders have reached 13.3 million in addition to 2.6 million new comers in the fiscal year.

Ephrem Mekuria, Public Relation Head of CBE, told Capital that his bank is under process to expand its branches in Khartoum and Djibouti.