The Commercial Bank of Ethiopia (CBE) has announced that its total assets have climbed to 2.3 trillion birr, marking a major milestone in the bank’s continued expansion and market dominance.
The growth comes as CBE’s customer base exceeds 43.1 million, underscoring its unmatched reach in the Ethiopian financial sector.
The announcement was made at the bank’s annual performance review for the 2017 Ethiopian fiscal year, which opened today.
CBE highlighted strong operational and financial performance during the reporting period, with gains in both deposits and digital transactions.
CBE President Abe Sano stated that the bank mobilized more than 515 billion birr in additional deposits during the fiscal year, pushing total deposits to a record 1.69 trillion birr.
As a result, the bank’s market share has grown to 49.6 percent, reinforcing its position as Ethiopia’s leading financial institution.
Currently serving over 43.1 million customers, CBE continues to lead the country’s banking sector in customer size, deposits, and total assets.
In a statement shared with Fana Digital, the bank emphasized its progress in digital banking.
More than 92 percent of its financial transactions during the fiscal year—valued at over 13 trillion birr—were conducted through digital payment platforms, it has been learned.
This surge in digital uptake highlights CBE’s strategic focus on financial technology and its contribution to Ethiopia’s push toward a cash-light economy.
Sorce: FMC