The Commercial Bank of Ethiopia (CBE) inaugurated the first full-fledged interest-free banking (IFB) branch, Billal Branch, around Bole Michael area on September 7, 2019. “I would like to assure you that the opening of this branch is a good testimony that CBE is always committed to meeting its customers’ needs,” said Bacha Gina, president of CBE. Currently, there are 11 commercial banks that have secured licenses from the central bank to operate IFB window service. Bunna International Bank, one of the later entrants to private banking, is the latest bank to secure the license. CBE earned 17.9 billion Br in gross profit and opened 157 branches during the just-ended fiscal year, pushing its total number of branches to 1,444.
Loading your updates...