The commercial bank of Ethiopia invited potential bidders for the supply of 2,000 Points of Sales terminals and 200 
Automated Teller Machines. The bank currently operates 58 ATM machines and has made preparations to import 200 ATM machines including 2,000 POS this year.
The commercial bank aims to raise its number of accounts by 25 percent in its effort to mobilize deposits, mainly to finance government housing projects.The bank plans to install 100 new ATMs and open 150 additional branches every year until 2015.
The bank has 200 branches and3.9 million account holders. Over 1.5 million account holders can reach their accounts in real time.
The IT infrastructure will extend the banks relations with various credit card providers as well as enabling it to launch new mobile and internet banking services. The bank has made 7.9 billion birr in gross profits while its gross revenue increased to 11.5 billion birr.The total deposit of the bank has exceeded 112 billion birr. From the 70 billion birr disbursed in loans the bank was able to collect 20.5 billion birr in the last fiscal year.
CBE was also able to earn 4.9 billion US dollars in foreign currency from export and remittance revenue through its affiliation with more than 20 international money transfer agents. The bank’s assets have grown to 155 billion birr and its capital reserve has reached 7.5 billion birr.
The total number of branches the bank operates across the country has grown to represent 60% of all banks enhancing its accessibility.
Source: Capital
