Ethiopia: CBE Posted a Record 8.4 Billion Birr Profit

Commercial Bank of Ethiopia posted a record 8.4 billion Ethiopian birr profit for the 2012/13 fiscal year, a sizable increase over the 7.9 billion birr reported in the same period last year.

The bank's general deposit has reached 154.4 billion birr and its general assets has totaled 198.3 billion birr, according to Yishak Mengesha, CBE's business development manager. The bank has opened 148 new branches across the country. The bank has also doubled the number of customers in reporting period to 6.9 million.

Commercial Bank of Ethiopia, the country's largest and government-owned bank mobilizing close to 80 percent of the country's finance, operates 647 branches throughout Ethiopia.

Source: The Reporter

Ethiopia: CBE Posted a Record 8.4 Billion Birr Profit

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