Commercial Bank of Ethiopia
The Commercial Bank of Ethiopia (CBE) is the largest commercial bank in Ethiopia. As of June 2021, it had about 1.1 trillion birr in assets and held approximately 67% of deposits and about 53% of all bank loans in the country. The bank has around more than 35,000 employees as of June 2022, who staff its headquarters and its over 1000+ branches positioned in the main cities and regional towns. The latter include 120 branches in the national capital Addis Ababa. With the opening of a branch in the Gechi in the Illubabor Zone, CBE's banking network has reached online 783 branches. The bank has reached more than 1950 branches as of 10 August 2022.
Native name | የኢትዮጵያ ንግድ ባንክ |
|---|---|
| Company type | State owned enterprise |
| Industry | Finance |
| Founded | 26 August 1942 |
| Headquarters | Commercial Bank of Ethiopia Headquarters, Gambia St, Addis Ababa, Ethiopia |
Number of locations | 1,948 (2023) |
Key people | Abe Sano (President) |
| Products | Financial services |
| Revenue |
|
Net income | Birr 10.32 billion (June 2018) |
| Total assets |
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Number of employees | 34,879 permanent |
| Website | www |
The bank also operates two branches in South Sudan. It is contemplating re-opening a branch in Djibouti, and opening branches in Dubai and Washington, DC, all to serve the Ethiopian diaspora.
The bank is pioneer to introduce modern banking to Ethiopia and credited for playing a catalytic role in the economic progress and development of the country. It is also the first bank in Ethiopia to introduce ATM service for local users.