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Commercial Bank of Ethiopia
From Wikipedia, the free encyclopedia Commercial Bank of Ethiopia | | Type | Government owned | Industry | Finance | Founded | 1963 | Headquarters | Addis Ababa, Ethiopia | Products | Financial services | Revenue | Birr 9.9 billion (June 2104) | Total assets | Birr 242.7 billion (June 2014) | Total equity | Birr 10.7 billion (June 2014) | Number of employees | 18,000+ (2014) | Website | www.combanketh.et |
The Commercial Bank of Ethiopia (CBE) is the largest commercial bank in Ethiopia As of June 2013, it had about 195.4 billion Birr in assets and held approximately 63.5% of deposits and about 38% of all bank loans in the country. The bank has around 22,000 employees, who staff its headquarters and its over 900 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 of the Oromia Region, CBE's banking network has reached online 783 branches. The bank has reached 1014 branches as of February 12, 2016.[2]
The bank also operates two branches in South Sudan, and is contemplating opening re-opening a branch in Djibouti, andopening branches in Dubai and Washington, DC, all to serve the Ethiopian diaspora.
History

A Commercial Bank of Ethiopia building in Addis Ababa.
After the Ethiopian-English victory over Fascist Italy, the new government established the State Bank of Ethiopia a proclamation issued in August 1942. State Bank of Ethiopia commenced full operations on 15 April 1943 with two branches and 43 staff. It served both as the Ethiopia's central bank with the power to issue bank notes and coins as the agent of the Ministry of Finance, and as the principal commercial bank in the country. In 1945 the Ethiopian government granted the bank the sole right of issuing currency. The first governor…...

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