The Commercial Bank of Ethiopia (CBE) President Abie Sano announced that CBE has achieved a significant milestone, with total assets soaring to 2.073 trillion Birr, during a presentation to the House of People’s Representatives Standing Committee on Government Enterprises. This impressive growth reflects the bank's robust performance and strategic initiatives over the past eight months.
As of February 2025, the bank's total deposits amounted to 1.541 trillion Birr, while its loan and bond reserves reached 1.393 trillion Birr, according to the president.
These figures, per the bank’s president, underscore CBE's strong position in the Ethiopian banking sector and its commitment to expanding financial services across the nation.
The report highlighted that CBE has successfully increased its market share in key performance indicators since the beginning of the fiscal year, signaling a competitive edge in a rapidly evolving financial landscape.
President Abe Sano emphasized the bank's dedication to supporting economic growth by providing substantial loans to customers.
In the first eight months of the fiscal year, CBE disbursed an impressive 264.65 billion Birr in loans, with a remarkable 88.2 percent allocated to the private sector. This focus on private lending not only stimulates business development but also fosters job creation and economic resilience in Ethiopia.
To further enhance financial accessibility for citizens, CBE is set to introduce new types of loans tailored to meet diverse customer needs.
This initiative aims to empower individuals and small businesses, ensuring that more Ethiopians can benefit from financial services that were previously out of reach.
In a move towards modernization, the bank has also embraced digital banking solutions, allowing customers to access loan services through innovative platforms.
According to recent data, approximately 717,000 customers have utilized these digital options, highlighting a significant shift towards technology-driven banking in Ethiopia.
The Commercial Bank of Ethiopia’s impressive asset growth and commitment to expanding financial access reflect its role as a key player in the country's economic development.
As it continues to innovate and adapt to market demands, CBE is poised to strengthen its position as a leading financial institution in Ethiopia and beyond, according to the information from the bank.