Some facts about Commercial Bank of Ethiopia

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Some facts about Commercial Bank of Ethiopia

 

  • CBE started operation with an initial capital of 1 million Maria Theresa Thaler (MTT).
  • Commercial Bank of Ethiopia (CBE) had 43 employees when it started operations in 1942.
  • The first headquarters of the Bank was first constructed during in the reign of and inaugurated by His Imperial Majesty Emperor Hailesilassie I at a cost of 4 million Birr in 1964. That headquarter, which is called the “Golden Building” is located just beside to the National Bank of Ethiopia (NBE).
  • Another headquarter is located in near to Legahar area.
  • Total deposit of the bank has reached 824 billion Birr, 57% slice of Ethiopia’s bank industry.
  • A total asset of the Bank has also reached 1.1 trillion Birr.
  • It has more than 1,800 branches and 34 million customers.
  • CBE has celebrated its 80th years of anniversary along with inauguration of its new headquarters.
  • Construction of the building was carried out under the supervision of Addis Ababa University Institute of Technology (AAiT) by the Chinese government Construction Engineering Corporation.
  • China’s construction firm CSCEC took 5 year and 11 months to complete its construction after signing a deal with the richest commercial Bank of Ethiopia in April 2015.
  • Its construction cost is $303.5 million. The building is the tallest building in Addis Ababa, the tallest building in East Africa.
  • 4 underground and 49 above ground with a total of 53 floors with a total height of 209.15 meters and two large buildings with 11 and 13 floors. It has a total area of over 165,000 square meters.
  • The 11-storey building has a conference hall; it has a modern Assembly Hall that can accommodate 2,500 people at a time, 5 small meeting halls with a capacity of 300 people and 200 seats (all can be connected to each other).
  • The 13-story building is also used as a commercial center. Includes state-of-the-art cinema with 5 rooms, malls, gymnasium, beauty parlor, children’s amusement park, game zone, restaurants, and food court.
  • The first floor of the main building is a permanent exhibition hall, from the 2nd to the 46th floor holding the office of the head office of the Bank. The 47th and 48th floors are cafeteria and recreation areas.
  • It has 24 elevators, 26 scaffolders. The 4 floors have a range of up to 1,500 cars, including a state-of-the-art mechanical parking, as well as a variety of other services.

 

 

 

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