The Commercial Bank of Ethiopia (CBE), the largest commercial bank in East Africa, announced it has earned over $612.46 million (17.9 billion birr) in profit during the Ethiopian fiscal year that ended on July 7, 2019.

CBE made the announcement after reviewing its overall performance of the ended fiscal year. As per the review, the bank raised its deposit from last year's $15.45 billion (451.8 billion birr), to $18.5 billion (541 billion birr) this year. It also opened 157 new branches during the year.

Source: Fana BC