Commercial Bank of Ethiopia signed an agreement for International Business Machines Corp. (IBM) to build a platform to deliver electronic banking services, as the bank intends to use new technology for the expansion of its business.
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 Commercial Bank of Ethiopia (CBE) and Seregela PLC inked an agreement to collaborate on payment systems. The agreement will enable customers of Seregela to effect payment using CBE card, mobile banking, or CBE Birr.
The recent invitation put out by the Commercial Bank of Ethiopia for the supply of Automated Teller Machines and Point of Sales Machines has attracted fierce competition from international and local suppliers.
Three international technology suppliers, Moroccan M2M, Indian Copy Cat and CBM, are competing for the contract to supply 420 ATM machines to the Ethiopian Bank estimated to be worth millions of US dollars.
Two companies, M2M and SSC, have reached the last stages of the competition to supply 4000 units of POS machines according to sources.
The largest bank in Ethiopia and East Africa, the Commercial Bank of Ethiopia (CBE) announced it has collected $3 billion forex in the first half of the fiscal year 2018/19.
