2merkato

The Commercial Bank of Ethiopia (CBE), the largest bank in East Africa and owned by the Ethiopian government, declared it has collected a profit of over $295 million (9.33 billion birr) before tax during the first half of this fiscal year. In a related note, the other two government-owned financial institutions, the Development Bank of Ethiopia and Ethiopian Insurance Corporation collected profits of $30 million (951.6 million birr) and $13.53 million (427.89 million birr) during the period, respectively.

The Commercial Bank of Ethiopia has announced 3.7 billion in gross profits for the first half of the current fiscal year. The revenue earned has surpassed the bank’s target earnings as well as exceeding the bank’s performance for the same period in the previous financial year according to an official with CBE.

The Commercial bank was able to mobilize tens of billions of birr in loans and savings also exceeding targets set said the official.

The Commercial Bank of Ethiopia (CBE) announced record-high profits and substantial growth across key indicators for the 2023/24 fiscal year.

The Commercial Bank of Ethiopia (CBE) reviewed the 2014/2015 budget year nine months performance during the three days meeting held at Bahir Dar from April 23 to 25, 2015.

Commercial Bank of Ethiopia (CBE) announced that it has secured $2.64 billion in foreign exchange from remittances sent home during the Ethiopian fiscal year that ended on July 8, 2021.