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The Commercial Bank of Ethiopia (CBE) has mobilized about 8.3 billion birr private deposit during the first quarter of this Ethiopian fiscal year.

The above was disclosed at a performance evaluation meeting held recently in Dire Dawa.
Accordingly,CBE has almost met 100 per cent of the planned 8.7 billion birr private deposit target for the quarter.

Over 1 billion USD remittance was also collected in the quarter.

Report of the 1st quarter of 2018/19 stated that the private deposit position of the bank has now jumped over 308 billion birr from the 300 billion birr at the end of the last fiscal year.

The quarter meeting also deliberated on the strengths and weaknesses of the bank in financial and non-financial sectors as well as the challenges encountered in the two days meeting.

Besides, the performance evaluation meeting which brought together senior officials of the bank and leadership of districts discussed the revised three-year strategy of the bank.

Closing the meeting, CBE President/CEO Ato Bacha Gina urged the management and staff of the bank to work in cooperation and meet effectively the national responsibility bestowed upon them.