The Commercial Bank of Ethiopia (CBE) has achieved a significant milestone, with its total deposits exceeding 1.4 trillion birr. This accomplishment was announced during the bank’s half-year performance review for the 2017 fiscal year, highlighting its robust financial growth and operational efficiency.
In the first six months of the fiscal year, the CBE successfully mobilized 245.9 billion birr in deposits, contributing to the overall deposit portfolio surpassing the 1.4 trillion birr mark. This performance represents a 147.6% achievement against the bank’s initial targets, underscoring its strong market presence and customer trust.
Notably, the CBE’s deposit mobilization accounted for 58.3% of the total deposits collected nationwide during the same period, which stood at 423.1 billion birr. This dominant market share reflects the bank’s pivotal role in Ethiopia’s financial sector and its ability to attract and retain customers.
The bank attributed this success to its enhanced customer relationships and improved service quality, which have strengthened its reputation as a reliable financial institution. Additionally, the CBE emphasized its commitment to supporting Ethiopia’s economic growth, leveraging its extensive deposit base to drive development initiatives across the country.
This achievement positions the CBE as a key player in Ethiopia’s banking industry, with its growing deposit portfolio expected to further fuel economic activities and contribute to the nation’s financial stability.
