The Commercial Bank of Ethiopia (CBE) has announced that it processed 5.3 trillion Birr through its digital banking services in the first half of the current fiscal year, highlighting the growing adoption of digital financial solutions in the country.
According to the bank, 79 percent of all money transfer transactions are now conducted via digital platforms, reducing reliance on physical branch visits and enhancing convenience for customers.
CBE’s Expanding Digital Banking Ecosystem
Bilen Hailemichael, Director of Merchant and Agent Management at CBE’s Digital Banking Division, emphasized the bank’s extensive digital reach.
30 million users are actively using CBE Birr, the bank’s mobile money service.
9 million customers are utilizing mobile banking services.
21 million cardholders are transacting through CBE’s banking system.
Over 4,000 businesses are using Point-of-Sale (POS) terminals for cashless transactions.
Bilen also noted that 910 million transactions were processed through the bank’s digital services in just the past six months.
Record Growth in Digital Transactions
CBE’s digital transactions have seen a 90 percent increase compared to the same period last year, signaling a strong shift towards digital banking among Ethiopian customers.
To keep pace with this growth, Bilen stated that CBE is continuously expanding its digital services and introducing new innovations to improve customer experience and financial inclusion.
As Ethiopia’s largest commercial bank, CBE’s digital transformation underscores the increasing reliance on cashless banking solutions and the country’s move towards a more digitized economy.
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