State Bank Mobilises 31.8b Br in Deposits

January 25 , 2020


State Bank Mobilises 31.8b Br in Deposits

The Commercial Bank of Ethiopia (CBE) mobilised 31.8 billion Br in deposits in the past six months of the current fiscal year. The Bank has mobilised 24.6 billion Br from the private sector in the reported period, according to Bacha Gina, president of the Bank. Out of the 37.9 billion Br in loans the bank planned to collect, it was able to collect 30 billion Br. Comparing the achievement with the same period last fiscal year, the performance shows a 38pc increment. CBE also earned 139.4 million dollars from exports and 1.7 billion dollars from remittances in half a year. To be reached by all classes of the society, CBE has opened 114 new branches in half a year, out of which 36 are fully interest-free banks. The Bank also managed to increase its depositors to 23.5 million.


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