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[Aug 2017] Commercial Bank of Ethiopia CBE Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

CBE Registers 6.7 billion Br profit for First Half 2015 / 2016 Fiscal Year

Commercial Bank of Ethiopia ProfitCommercial Bank of Ethiopia (CBE) reported 6.7 billion Br profit before tax for the first half of this fiscal year. This is nearly half of the 12.8 billion Br income it bagged during the same period last fiscal year.

This performance does not include the 4.4 billion Br deposit it mobilized suddenly when it announced in January, that it

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Commercial Bank of Ethiopia Puts Other Private Banks in Liquidity Crisis

Commercial Bank of Ethiopia CBE BuildingAlmost all commercial private banks found themselves confronted with liquidity crises, after suffering from what is known in the finance world as “a run on a bank” phenomenon occurred last week. It is an unusual situation where depositors demand withdrawals in unusually huge sums, with the result threatening to stall the whole

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CBE to Award Moti Engineering for 400 NCR ATMs

Commercial Bank of Ethiopia (CBE) is to award NCR, an internationally renowned manufacturer, and Moti Engineering Plc, a local IT firm, the purchase and service rendering of 400 Automatic Teller Machine (ATMs), respectively, and a three year framework agreement whereby the two partners could deliver and provide service.

CBE currently has 1,027 ATMs and plans to have a total of 3,000 by 2020.

If this award leads to a contractual agreement, which could happen in two weeks’ time, it would be the second in four months that the

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Construction Bank merges with Commercial Bank of Ethiopia

Commercial Bank of Ethiopia CBE LOGOConstruction and Business Bank (CBB) and Commercial Bank of Ethiopia (CBE) merged this week, the later engulfing the former to form a mighty government owned financial institution, with combined asset of over 318.5 billion birr. 
Sentayehu Wolde-Michael (PhD), Director of Public Financial Enterprises Agency, announced on December

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CBE Records 42.8b Br Profit over Last Five Years

The Commercial Bank of Ethiopia (CBE) reported what it called a very successful five year performance in the first Growth & Transformation Plan (GTP I), with its cumulative gross profits reaching to 42.8 billion Br and loan disbursements of 321.9 billion Br. Its gross profit in the first year of the GTP was just 3.2 billion Br.

The Bank, which has increased its deposits from 56 billion Br at the start of GTP I to 241.7 billion Br at the end, mainly funds mega public projects, according to the bank officials who spoke to

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CBE Leads Banking Sector with $2.3m Automation Agreement

The Commercial Bank of Ethiopia (CBE) is automating its back office process in a 2.3 million dollar agreement signed with Tech Mahindra Ltd on July 10, 2015.

The automation is a 10-month process starting on August 9, 2015. Tech Mahindra, a firm specialising in digital transformation, consulting and business engineering, will be assisted in the project by its local agent, Fairfax Technologies. The two will implement and support enterprise resource planning system (ERP), business intelligence, customer relation management and

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