Fana: At a Speed of Life!

CBE obtains $4.8 bln from remittance, export in nine months

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Addis Ababa, April 23, 2019 (FBC) – The total deposit of the Commercial Bank of Ethiopia (CBE) has reached 504 billion birr.

This was disclosed during the bank’s nine-month performance evaluation session held in Adama from April 19 – 20, 2019.

CEO and President of CBE, Bacha Gina attributed the success to the efforts made by the bank to create public awareness and the effective implementation of its deposit mobilization strategy.

According to him, the bank has managed to mobilize 52 billion Birr deposit in the last nine months of the fiscal year alone.

It was also able to obtain a total of $4.8 billion from remittance, export and others during the past nine months, CBE said on Facebook.

In the bank’s endeavor to enhance accessibility 109 new branches were opened, which brought the bank’s branch network to 1,396.