CBE Reveals Encouraging Nine-Month Performance

Apr 30 , 2021


[ssba-buttons]

The Commercial Bank of Ethiopia (CBE) announced last week that it had an inflow of around 2.4 billion dollars over the first three quarters of the current fiscal year. While the vast majority of this amount (2.13 billion dollars) was in the form of remittances, around 216 million dollars was registered from exports. CBE had an inflow of 1.8 billion dollars (only 139m dollars was from exports) in the first half of the last fiscal year, which made up 36pc of the national total during that period. The Bank also disclosed that it had mobilised just under 103 billion Br in deposits over the nine-month period, bringing its total deposits to 698.2 billion Br. Around 886 million Br was mobilised from the 62 new branches that CBE managed to open during the reporting period, pushing it total branch network to 1,665. At the end of the last fiscal year, CBE branches accounted for a quarter of all operational bank branches in the country. In addition, over four million new CBE accounts have been opened since June 2020, bringing the total number of accounts registered at the Bank to 29.4 million.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...