Commercial Bank of Ethiopia (CBE) said it was increasing the use of technology in its financial services and able to facilitate more than Birr 1.9 trillion in digital transaction in 2022.

The bank has deployed applications such as CBE Birr and machines including ATM and POS machines which are used for digital transactions. It currently has 1838 branches and more than 35 million customers. The bank also facilitates 20 million monthly transactions.

CBE made a profit of Birr 27.5 billion during the 2021/2022 fiscal year which surpassed the profit registered during the 2020/2021 fiscal year by 43.9%. During the fiscal year, the bank’s ATM users totaled 7.73 million while mobile banking users reached 5.94 million.

Source: Fana BC, Ethiopian News Agency, and CBE