The Commercial Bank of Ethiopia reviewed the 2016/17 First quarter performance in a three-day meeting held at Mekele from November 03-05, 2016.
The performance review started with the presentation of a report by Woizero Sosina Mengesha, Director of Office of Strategy Management. The participants discussed on the report presented at district, process and corporate levels.
The performance review showed that the overall performance of the Bank during the quarter was remarkable. During the quarter, it has been possible to mobilize 7.7 billion birr of deposit from various sources. From loans disbursed during the previous quarters, it was possible to collect 12 billion birr and provide a fresh loan of 17.7 billion birr to various sectors and customers.
In the Bank’s endeavor to contribute to the enhancement of the country’s payment system, a lot has been accomplished. During the quarter, 270,685 new CBE Reliable Cards were distributed to customers that takes the total number of active card holders to more than 1.8 million. The total number of ATM and POS terminals deployed at various locations reached 1,065 and 6,092 respectively.
Ato Bekalu Zeleke, President of the Commercial Bank of Ethiopia, in his closing remark said that the challenges the domestic economy as well as the Bank faced during the quarter was demanding. It was however possible to register encouraging performance as a result of support from the Bank’s esteemed customers and other stakeholders.
Ato Bekalu Zeleke assured the participants that with such fertile ground, the coming quarters are bright enough to accomplish what is planned for the year as well as the five years strategic plan.