The Commercial Bank of Ethiopia (CBE) has reviewed its 2015 /16 fiscal year performance from August 4 to 6, 2016.
CBE President Ato Bekalu Zeleke remarked that most of the financial and non-financial targets of the Bank have been met. Among the accomplishments, he cited the effort to mobilize resources that finance development projects in the country as deserving admiration. Ato Bekalu said CBE has also accomplished a lot in terms of creating access through branch networks and the expansion of electronic banking services.
During the annual session, the 2015/16 district and process level performances of the Bank were presented by the Office of Strategy Management and thoroughly discussed.
As indicated in the report, it has been possible to mobilize a total deposit of 46.7 billion birr in the year, and that makes the Bank’s deposit 288.4 billion birr. The Bank has disbursed 91.9 billion birr loan and collected those as per the schedule.
During the budget year, additional 84 branches were opened in different parts of the country and that makes the number of branches 1,136. Following the implementation of various initiatives, it was possible to attract 2.6 million customers; and that boosted the customer base of the Bank to more than 13 million.
According to the report, the expansion of electronic banking services has shown a remarkable progress during the year and saw the deployment of additional 250 ATMs, 4,383 POS terminals pushing the total number of ATMs and POS terminals to 889 and 6,269 respectively. The number of cardholders has also reached 2.8 million. Similarly, the number of mobile banking and internet banking subscribers has climbed to 1.1 million and 13,700 respectively.
The participants of the meeting have vowed to capitalize on the remarkable performances and improve the weaknesses observed during the year.
Finally, CBE’s 2016/17 Plan was presented and discussed.
At the end of the discussion, Ato Bekalu Zeleke appreciated the dedication of the Board of Directors, the management, and employees of the Bank for the successful implementation of the 2015/16 Plan.
The President reminded the participants that stretching the Bank’s annual plans is necessary in order to attain the targets set for the five-year strategic plan. The 2016/17 Plan has been prepared in this sprit, Ato Bekalu said, and called on all the management and employees to coordinate efforts towards a successful accomplishment.