A record deposit of one trillion birr is reported by Commercial Bank of Ethiopia.
In its half-yearly report, the Commercial Bank of Ethiopia (CBE) declared that its deposit quantity had already reached one trillion ETB.
Yinager Dessie, President of CBE, announced the bank's first-half performance report of the Ethiopian fiscal year, stating that the bank achieved 58.7 billion ETB in income and 13 billion in net profit.
"CBE has now surpassed a historic deposit of one trillion birr! Abe Sano tweeted, "Congratulations to our stakeholders, especially our cherished customers and employees.
In the first half of the fiscal year, 39.3% of payments were made using online banking services.
The then-Governor of the National Bank of Ethiopia (NBE), Yinager Dessie, revealed that the net income of banks increased from 22.4 billion ETB in 2019 to 49.9 billion ETB in 2022, while the total deposits over the last four years increased from 899 billion in 2019 to 1.7 trillion ETB in 2022, in a meeting with CEOs of banks on August 8, 2022.
According to NBE, there were 40 microfinance institutions, six capital goods finance/lease companies, 18 insurance companies, one re-insurance company, 29 commercial banks, one development bank, eight payment instrument issuers/system operators, and 18 insurance companies operating in Ethiopia as of August 2022.
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