Commercial Bank of Ethiopia (CBE) disclosed it has made 42.8 billion Birr of net profits in the GTP I period, 116 percent beyond its initial target, according to Capital.

Report of five years performance released on Thursday, August 27, 2015 states that CBE’s deposits have reached 241.7 billion Birr today from 56.1 in 2010. Currently, its assets are valued at 303.6 billion Birr.

CBE has grown to service 10.7 million customers, with 8.5 million joining over the past five year period. The bank opened 745 new branches and increased its workforce from 8,117 to 22,908 to accommodate its customers in GTP I period.

Source: Capital