The Commercial Bank of Ethiopia (CBE) has deposited record high $14.5 billion, the bank’s senior official said on Tuesday.
The president of the bank 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.
The president was speaking during the bank’s nine-month performance evaluation session held in Adama city, some 100km east of Addis Ababa.
According to him, the bank has managed to mobilize $1.8 billion deposit in the last nine months of the fiscal year alone.
The giant commercial bank was also able to obtain a total of $4.8 billion from remittance, export and others during the past nine months, the president said.
In the bank’s endeavor to enhance accessibility 109 new branches were opened during this fiscal year which began on July 8, 2018, which brought the bank’s branch network to 1,396.
MG/as/APA