CBE records 1.9 trillion birr in assets

Addis Ababa, December 28, 2024 (FMC) – The total assets of Commercial Bank of Ethiopia (CBE) have reached 1.9 trillion birr, the bank’s president Mr. Abe Sano has disclosed.

Mr. Abe Sano mentioned that in the past, the bank had been lending billions of birr at low interest rates for the construction of large scale projects, and that the bank was facing a threat.

According to him, CBE is now undergoing greater transition and achieving success owing to the recent comprehensive macroeconomic reforms implemented in the country. In this regard, the implementation of macroeconomic reform has lifted the entire activity of the bank to a higher level.

He mentioned that the bank is currently in a good position in all aspects, and confirmed that it is committed to increase its profitability and strengthen its competitiveness by leveraging the opportunities brought about by the economic reform.

The total assets of the bank are now 1.9 trillion birr and the total deposits have reached 1.4 trillion birr, Mr. Abe confirmed.

He said that the market-based exchange regime has enabled the bank to record significant growth in savings in addition to the obtaining of foreign currency.