The Commercial Bank of Ethiopia (CBE) has achieved a historic milestone, collecting over 303 billion birr in deposits within the first seven months of the 2017 fiscal year. This marks the highest deposit amount recorded in the bank’s history. The bank’s total deposits have now surpassed 1.4 trillion birr, with 245.9 billion birr collected in the first six months alone—accounting for 58.3 percent of total deposits collected nationwide during the period.
At the bank’s half-year performance review meeting, attended by senior executives and branch managers, officials attributed this growth to improved customer relationships and enhanced service quality. The bank’s deposit mobilization performance stood at 147.6 percent of its target, reflecting strong public confidence.
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CBE has also reported significant efforts to expand credit accessibility. According to its six-month performance report, 88 percent of the 153.32 billion birr in loans disbursed up to mid-fiscal year were directed to the private sector, signaling an emphasis on business financing. The bank’s total outstanding loans have now reached more than 1.3 trillion birr, with 58.5 billion birr provided through the CBE Nur service. Additionally, the bank has reduced its non-performing loans to 2.7 percent, an improvement in loan portfolio management.
The report also highlighted rapid growth in digital banking adoption. More than 5.4 trillion birr worth of transactions were processed through digital payment platforms within six months, accounting for over 910 million transactions—nearly 80 percent of total transactions at the bank. Compared to the same period last year, digital transactions saw an 80 percent increase in volume and a 90 percent rise in value.
CBE officials stated that the surge in digital transactions aligns with national efforts to promote financial inclusion and advance Ethiopia’s digital transformation.
