ADDIS ABABA, April 4 (Xinhua) -- Ethiopia's state-owned Commercial Bank of Ethiopia (CBE) said its total asset has increased to 2.073 trillion birr (about 15.75 billion U.S. dollars), the Ethiopian Broadcasting Corporation reported Thursday.
The CBE has achieved a significant milestone, with its total assets soaring to 2.073 trillion birr, Abie Sano, president of the bank, was quoted as saying while presenting the bank's performance report.
Describing the bank's performance as "impressive," Sano said as of February 2025, the bank's total deposits surged to 1.541 trillion birr, while its loan and bond reserves reached 1.393 trillion birr.
These figures, according to the bank's president, show the bank's strong position in the Ethiopian banking sector and its commitment to expanding financial services across the country.
The president said that the 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.
Sano reaffirmed the bank's dedication to supporting economic growth across the country by providing substantial loans to customers.
In the first eight months of the fiscal year, the CBE disbursed 264.65 billion birr worth of loans, with a remarkable 88.2 percent allocated to the private sector. He said this focus on private lending not only stimulates business development but also fosters job creation and economic resilience in Ethiopia.
In a move toward modernization, the bank has also embraced digital banking solutions, allowing customers to access loan services through innovative platforms, the president added.
According to the president, about 717,000 customers have utilized these digital options, marking a significant shift toward technology-driven banking in Ethiopia. ■
