The state owned Commercial Bank of Ethiopia (CBE) extended over 31.8 billion Birr loan to mega projects and the private sector in the first half of the current fiscal year.

The bank claims it has given special attention to increase its loan provision in the fiscal year in order to make finance available to government projects.

The state owned giant also disclosed it has registered better performance in the volume of loan it extended to the private sector. In addition to this it has introduced new technologies and expaned branches in the aim of improving access to banking services.

During the past six months CBE’s deposit has rose to 209.2 billion Birr from 193 billion Birr.

Source: Ethiopian News Agency