The Commercial Bank of Ethiopia is planning to increase total deposits to 256 billion at the end of the GTP period.
The bank has adopted several schemes to encourage savings including the ‘Save to Win Prizes’ campaign concluded recently according to Bekalu Zeleke, President of the Bank.
The banks has managed to attain 36 billion birr in deposit through the campaign as part of its aim to reorient the national savings culture he noted.
The deposits in the bank will be invested in projects related to the national developmental agenda including the construction of sugar factories and the Grand Renaissance Dam.The Commercial Bank is operating 337 branches and is aiming to expand even more with a view towards enhancing accessibility. The bank is in the process of installing more than 400 Automatic Teller Machines in large towns across the country which will provide 24 hour cash withdrawal services he explained.
The bank also plans to increase the numbers of its customers to ten million from the 4 million that it currently has added Bekalu.
Source: Ethiopian News Agency
