The Commercial Bank of Ethiopia has earned more than 7 billion birr in the current Ethiopian fiscal year said a senior official with the bank.

The profits earned by the bank are higher then projected incomes for the financial year said the official.

The current gross of more than 7 billion birr is 67% higher than that of last year when the bank earned 4.2 billion birr.
The performance of the bank’s International Banking Department and the head office contributed a significant portion to the bank’s high profits.

The bank installed the Temeno banking system from a Swiss vendor two months ago.

The system still has been encountering some problems related to logging in and accessing customer accounts due to poor internet connectivity according to some tellers at CBE branches.

The new system requires high speed internet connection to function properly and encounters problems when there are problems in connectivity explained sources.

The problems are of the type that would be expected when installing a new system and has nothing to do with the banking software according to Yisak Mengesha, Chief Business Development Officer of the CBE.

The bank is exerting maximum effort to build its capacity and adapt new banking technologies to provide modern banking services and in spite of some minor glitches it has succeeded in configuring the new system said Yisak.

Source: The Reporter