The Commercial Bank of Ethiopia announced that it has transferred 5.3 trillion birr through digital options in the first six months of the current Ethiopia fiscal year.
The bank also stated that currently 79 percent of the bank’s money transfer operations are being carried out through digital options.
Digital banking is an option that allows customers to access services using their mobile phones and cards without physically visiting banking branches.
According to Blen Hailemichael, the bank’s Digital Banking Division Merchant and Agent Management Director, the bank has 30 million CBE birr and 9 million mobile banking users.
He further noted that 910 million transactions have been carried out through digital options in the past six months.
He stated that 5.3 trillion birr of money was processed, which is a 90 percent increase compared to the same period last year.
The director also said that the bank is working to expand its digital options and provide new digital services, as per reports from local news outlets.