CBE Assets Surpass 1t Br Mark

Nov 27 , 2021

The total assets of the state-owned Commercial Bank of Ethiopia (CBE) have hit the one trillion Birr mark. The Bank's total deposits reached 735 billion Br last year. Over the first quarter of this fiscal year, the CBE opened 38 branches, bringing its total network to nearly 1,800. It disbursed 36.8 billion Br in loans over the same period. The state-owned giant serves close to 33 million accounts and makes up a third of the banking industry's total capital. Earlier this month, the recently-established Liability & Asset Management Corporation (LAMC) settled 34.1 billion Br in debts owed to the CBE by three state-owned enterprises.



A street lamp around Addis Abeba Stadium melds into the concrete backdrop emblematic of the capital's ageing infrastructure. Over the past few years, Ethiopia's electric grid has been subject to destruction and theft, subjecting the public treasury to hundreds of millions in losses. Nearly half of the country's population does not have access to electricity. A series of projects by the World Bank has contributed to the slight but essential upgrade to the nation's grid, including a 500 million do...



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