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Mar 5 , 2020
Abie Sano
Abie Sano, a banker with a wide range of experience in the industry, has replaced Bacha Gina as the new president of the state giant Commercial Bank of Ethiopia (CBE).
Signed by Beyene G. Mesqel, director of the Public Enterprises Holding & Administration Agency, the letter appointed Abie to head the Bank starting from yesterday, March 4, 2020.
Abie replaces Bacha, who was recently appointed to be an ambassador. Bacha served the Bank as president for a year and seven months, succeeding Bekalu Zeleke. Before joining CBE, Bacha worked as vice-presidents of Cooperative Bank of Oromia and Awash Bank.
He assumed office at a time when the Bank has been suffering from a liquidity crunch. The Bank's loan-to-deposit ratio stood at 108pc as of June 30, 2019, much higher than the industry average.
Abie, a father of one, earned his Bachelor's degree in accounting from Addis Abeba University (AAU) two decades ago. He also completed his Master’s degree in business administration at the University of London in 2010.
Abie, who started his career at CBE, served as president of CBE for a year until he left his position in February 2009, leaving the post to Bekalu Zeleke. After departing CBE, he joined Oromia International Bank as president, where he has been serving until his latest appointment. He has been also serving as president of the Ethiopian Bankers Association.
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