The total asset of CBE reaches 242 billion EB
Commercial Bank of Ethiopia (CBE) said that its current asset has reached 242 billion EB due to the consolidated effort it exerted in the past ten consecutive years.
Communication Manager of CBE said that its provision of modern services and awareness creation of saving programs have enabled the bank to attain such a big deal of total asset.
The total asset of the Bank in 1991 was only 5 billion EB, the managed added.
He also said the Bank planned to attain 257 billion EB from saving in its Five years’ Growth and Transformation Plan and it has currently reached 192 billion EB.
Some five years ago, the country’s saving amounts only 5 per cent, the manager said, adding that the multifaceted efforts exerted so far, however, raised it to over 22 per cent preceding the GTP 18 per cent target.
Saving plays a crucial contribution in trade and investment to record a fair and rapid national economy growth.
Currently the bank has 868 branches throughout the country. Every year it is launching 150 new branches to raise the total number of branches to 1000 by the end of the GTP.