Commercial Bank of Ethiopia (CBE), the largest bank in East Africa, announced that its total deposit has now reached 504 billion birr. The bank made the announcement during its nine-month performance evaluation session held in the city of Adama, April 19 to 20, 2019.

Bacha Gina, CEO and President of CBE, said the achievement is mainly due to the efforts the bank made to create public awareness, as well as the effective implementation of its deposit mobilization strategy. The bank has been able to 52 billion birr deposit in the last nine months of the fiscal year, Mr. Bacha pointed out.

CBE has also announced that it has obtained $4.8 billion from remittance, export and others means.

During the nine months the bank reviewed, it has opened 109 new branches, bringing the total number of its branches to 1,396.

Source: Fana BC