The total assets of the Commercial Bank of Ethiopia reached 1.2 trillion birr











Abe Sano, the bank’s president, announced that the total assets of the Commercial Bank of Ethiopia have reached 1.2 trillion birr.

It is understood from the report submitted by the president of the bank that the Commercial Bank of Ethiopia, which is conducting the evaluation of the performance of the work plan for the 2014 (2021/22) fiscal year, has generally achieved a performance that is above or close to the plan.

Mr. Abe Sano stated that the bank collected 154.9 billion birr in additional deposits in the fiscal year 2014 (2021/22), bringing the total deposits to 890.1 billion birr.

He said that the bank made a profit of 27.5 billion birr in the fiscal year, which is 16.3 percent of the plan and 43.9 percent more than the same period last year.

Mr. Abe explained that the bank has given 179.2 billion birr in loans to various sectors of the economy.

Abe said that 2.6 billion dollars have been obtained from various sectors regarding the acquisition of foreign currency, and 7.7 billion dollars have been paid by the bank to various income items and others that have been given attention by the government.

In an effort to extend the bank’s services to all sections of the society, 124 new branches were opened in the fiscal year, and the total number of branches of the bank reached 1824.

Abe stated in his report that 35 percent of the accounting activities performed in the fiscal year were done through digital banking services in the bank’s efforts to reduce cash circulation by increasing the customer’s use of technology-assisted services.

Mr. Abe, who stated that 2.9 million new accounts have been opened in the fiscal year, added that the total number of depositors of the bank has reached 35.9 million, according to the information we received from the bank.

The Chairman of the Board of Directors of the Commercial Bank of Ethiopia Ato Teklewold Atnafu said that the bank has achieved encouraging results in various international and national challenges.





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