CBE Scores 9.4b Br Profit in Half Year

Jan 26 , 2019


[ssba-buttons]

Commercial Bank of Ethiopia (CBE) earned a profit of 9.4 billion Br in the first half of this fiscal year. The state commercial bank mobilised 29.8 billion Br in deposits, meeting 92pc of its plan, according to Bacha Gina, president of CBE. The state giant has also transacted two billion dollars in remittances, 93pc of the target, and earned 21.8 billion Br from investments on loans and advances, meeting 70pc of its goal. The bank collected three billion dollars in foreign currency. “Loans to mega projects haven’t had as good returns,” Bacha said. The bank opened 59 new branches in the first half of the year, which have already seen deposits worth 188.1 million Birr, increasing its physical outlets to 1,346. With over 1.5 million new bank accounts opened, the total amount has reached 20.3 million customers. The bank added 1,220 additional employees with the total number of employees now reaching 33,558. The largest and oldest commercial bank in the nation, it underwent a significant executive reshuffling last year, with eight executives leaving in less than half a year.


Radar

Deposit Insurance Fund Grows to 15.1B Br, Signals Readiness for Crisis Response

Two years into its operations, the Ethiopian Deposit Insurance Fund (EDIF) has grown its asset base to 15.1B Br, reinforcing its role as a critical backstop for depositors and financial institutions alike. The Fund, established under a proclamation by the Council of Ministers, was designed to shield depositors in the event of bank or microfinance collapses. Since its inception, EDIF has focused on collecting premiums from member institutions, investing the funds, and building a system robust...


Radar

Rockefellers 100m Dollars Leap into Regenerative Lunches

As part of the UNFSS+4 High-Level Convening, a thematic session titled "Nourishing the Future through Regenerative School Meals" was held on July 26, 2025, at the Sheraton Addis on Taitu St. It brought together prominent figures including Ethiopia's former Prime Minister Hailemariam Desalegn, former First Lady Roman Tesfaye, and Kenya's First Lady Rachel Ruto. Organised by the Rockefeller Foundation, the event focused on overhauling child nutrition through regenerative agriculture. Sarah Farl...


Radar

Hijra Bank Backs Young Innovators with Awards, Loans

Hijra Bank has awarded five young Ethiopian innovators in the final round of its “Sirara” Creative Spark Awards, selected from over 27,000 applicants. The programme targets practical innovations in agriculture, sustainability, and appropriate technology. Top winner Milkias Ahmed (PhD) received a 300,000 Br prize and a 3 million Br interest-free loan for developing an organic soil conditioner from animal bones. Second and third prizes went to Yusuf Ali and Muhammad Juhar for a crop-harvest...