The Commercial Bank of Ethiopia (CBE) announced that it has able to deposit 504 billion birr, and increase its reach by increasing its branch to over 1300.
The bank disclosed made this remark today while reporting its nine-month performance evaluation session held from during the last weekend.
CEO and President of CBE, Ato 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 USD from remittance, export and others during the past nine months.
In the bank’s endeavor to enhance accessibility 109 new branches were opened, which brought the bank’s branch network to 1,396.