Construction and Business Bank’s (CBB) branches will start giving service starting from April 4, 2016 under the name of their new owner, Commercial Bank of Ethiopia (CBE).

According to the time table set by CBE, migrating customer base and institutional data of CBB will be done by April 2, 2016.

When all the transfer is done and the branches are open for service, CBE’s branches will climb to 1,170. CBE will be operating these branches in Ethiopia and Sudan.

In addition to these branches, CBE announced recently it would open branches in the US and United Arab Emirates.

It was in December 2015 that the acquisition of CBB by CBE was announced. CBB was established in 1975 by merging two mortgage banks; Imperial Savings and Home Ownership Association, and Savings and Mortgage Corporation of Ethiopia.

Source: The Reporter