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The total deposits of the Commercial Bank of Ethiopia reached 890.1 billion birr.

 

The bank is conducting a performance review for the 2014 (2021/22) fiscal year at the new headquarters building's meeting hall.

 

Abe Sano, the bank's president, announced that the Commercial Bank of Ethiopia collected 154.9 billion birr in additional deposits in the 2014 (2021/22) fiscal year, bringing its total deposits to 890.1 billion birr.

 

It is understood from the report submitted by the president of the bank that the Commercial Bank of Ethiopia, which is conducting the performance evaluation of the work plan for the 2014 (2021/22) fiscal year, has achieved overall performance that is above or close to the plan.

 

Abe stated that the bank made a profit of 27.5 billion birr in the fiscal year, which is 16.3 percent more than the plan and 43.9 percent more than the same period last year.

 

Mr. Abe explained that the bank has given 179.2 billion birr in loans to various sectors of the economy.

 

Abe said that 2.6 billion dollars have been obtained from various sectors regarding the acquisition of foreign currency, and 7.7 billion dollars have been paid by the bank to various income items that have been given attention by the government and others.

 

It is understood from the report presented by Mr. Abe that the total assets of the Commercial Bank of Ethiopia have reached 1.2 trillion birr.

 

In an effort to extend the bank's services to all sections of society, 124 new branches were opened during the fiscal year, and the total number of branches of the bank reached 1824.

 

Abe stated in his report that 35 percent of the accounting activities performed in the fiscal year were done through digital banking services in the bank's efforts to reduce cash circulation by increasing the customer's use of technology-assisted services.

 

Mr. Abe stated that an additional 2.9 million new accounts were opened in the fiscal year, adding that the total number of bank depositors reached 35.9 million.

 

The Chairman of the Board of Directors of the Commercial Bank of Ethiopia Ato Teklewold Atnafu said that the bank has achieved encouraging results in various international and national challenges.

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