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[Dec 2017] Commercial Bank of Ethiopia (CBE) Profit Latest Ethiopian News | Ethiopian Business Directory & Portal - Addis Biz

Commercial Bank Ready to Launch Agent Banking

Commercial Bank of Ethiopia CBE BuildingThe State owned giant, Commercial Bank of Ethiopia (CBE), is set to launch agent banking, CBE Birr, next month. It has already gotten approval from the National Bank of Ethiopia (NBE) to pilot the system.

The move comes four years after the Bank started a feasibility study to provide the service.  It enables users to

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Commercial Bank of Ethiopia (CBE) earns 14.6 billion birr profit before tax for 2017 / 2016 fiscal year

The state owned financial giant, Commercial Bank of Ethiopia (CBE), total assets will soon climb to a half trillion birr.
The bank disclosed in its annual performance for the 2016/17 financial that it has registered massive progresses in every aspect of the banking activity.

The biggest bank in the country stated that its assets reached to 485.7 billion birr by the end of the financial year. The capital of CBE has also reached to 40 billion birr. Recently, the government approved a capital increase.

For the year the

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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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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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Ethiopian Banks Profit Increases

The last fiscal year had been one of growth and expansion for Ethiopia’s banking sector, though still dominated by the state owned Commercial Bank of Ethiopia (CBE) and although most of the private banks still face the challenge of meeting a paid-up capital minimum of 500 million Br by 2016, according to a decree by the central bank.

In the fiscal year that ended on June 30, 2014, the total number of bank branches in the country reached 2,208; of these 1,205 are private bank branches. Of the new 480 branches opened during the year,

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