It all started with a simple philosophy back in 1924. A community bank dedicated to providing personalized financial services with a commitment to the community. While we have continued to build on our heritage and adapted to changes, The Commercial Bank has never strayed from this philosophy.
What is the background of CBE?
The history of the Commercial Bank of Ethiopia (CBE) dates back to the establishment of the State Bank of Ethiopia in 1942. CBE was legally established as a share company in 1963. In 1974, CBE merged with the privately owned Addis Ababa Bank.
How many branches have Commercial Bank of Ethiopia 2020?
Commercial Bank of Ethiopia (CBE) It operates a network of 1,666 branches and 1,501 ATMs across Ethiopia.
Which banks were formed in Ethiopia the first time and when?
February 15, 1906, marked the beginning of banking in Ethiopia when the first Bank of Abyssinia was inaugurated by Emperor Menelik II. It was a private bank whose shares were sold in Addis Ababa, New York, Paris, London, and Vienna.
What is the purpose of CBE?
The CBE’s mandate is to: promote and protect the interest of the public in the built environment; promote and maintain a sustainable built environment and natural environment; promote ongoing human resources development in the built environment; facilitate participation by the built environment professions in …
When was CBE established?
August 1942
Commercial Bank of Ethiopia/Founded
Which bank is profitable in Ethiopia?
For the 2017/2018 budget year, Awash Bank earned 1.96 billion ETB, making it the best private commercial bank in Ethiopia, in terms of profitability. The gross profit of Awash Bank was said to have increased by a whopping 650,000,000 ETB compared to the previous year.
Which bank pays highest salary in Ethiopia?
The Bank of Abyssinia
The Bank of Abyssinia has claimed the top spot as the Ethiopian bank paying the most to its senior management, though the salary increment for its mid-level staff is rather less flamboyant.
When did Addis Bank become commercial bank of Ethiopia?
Seven years later, the Sudanese government nationalized the Commercial Bank of Ethiopia’s branch in Khartoum. The Ethiopian government merged Addis Bank into the Commercial Bank of Ethiopia in 1980 to make CBE the sole commercial bank in the country.
How many employees does commercial bank of Ethiopia have?
The bank has around 22,908 employees, who staff its headquarters and its over 1000+ branches positioned in the main cities and regional towns. The latter include 120 branches in the national capital Addis Ababa. With the opening of a branch in the Gechi in the Illubabor Zone of the Oromia Region,…
Who was the first Central Bank of Ethiopia?
It served both as Ethiopia’s central bank, with the power to issue banknotes and coins as the agent of the Ministry of Finance, and as the principal commercial bank in the country. In 1945 the Ethiopian government granted the bank the sole right of issuing currency. The first governor of the bank was an American, George Blowers.
When did commercial bank of Eritrea become CBE?
In 1991, when Eritrea achieved its independence, the Eritrean government nationalized the branches there. In 1994 these branches formed the basis for what became the Commercial Bank of Eritrea. Also in 1994, the Ethiopian government reorganized and reestablished CBE. In 2004, CBE closed its branch in Djibouti due to problems with loan losses.
