Ethiopia's Construction & Business Bank posted a net profit of 110 million Ethiopian birr in the 2012/13 Ethiopian Fiscal Year.

The Bank has also earned a total income of 488.1 million birr, surpassing the previous year's earning by 46.5 million birr.

Construction & Business Bank has opned 22 new branches out of the 31 branched planned for the year, according to the Bank's President, Haileyesus Bekele. 

CBE, which has finalized its CORE banking system two week ago, is also looking to install 20 Automatic Teller Machines (ATM) this month in addtion to plans to use 500 ATM machines already installed by the Commercial Bank of Ethiopia.

Source: Fortune