CBE amasses record high gross profit of 27.5 bln Birr

Commercial Bank of Ethiopia (CBE) announced Thursday that it has earned 27.5 billion Birr gross profit during the 2021/22 fiscal year, which ended on July 8, 2022.

The profit is 43% higher than its profit in 2020/21 fiscal year.

Abie Sano, President of the CBE said during the presser on CBE’s financial performance on Tuesday at its recently inaugurated headquarters that the capital of the Bank has reached 59.11 billion Birr.

CBE has 1,824 branches across the country and 70 thousand staffs.

CBE had also able to increase its total assets to 1.7 trillion Birr during last fiscal year.

Established in 1942 with a capital of one million Maria Theresa Thaler (MTT) and two branches Addis Abeba, the Bank has a network 1,824 branches, serving more than 31.4 million customers across the country.

CBE’s number of ATM users reached 2,766, Point on Sales (PoS) machine customers 4,861. Other technologies users are also increasing including internet banking 39,022, ATM card holders reaches 7.7 million, and mobile banking 5.9 million.

CBE disbursed a loan amounted 179.1 billion Birr in the fiscal year, according to Abe Sano.