The Commercial Bank of Ethiopia (CBE) has earned a gross profit of 17.9 billion birr in the 2018/19 budget year.
This was disclosed at the annual performance evaluation meeting of the bank held from August 16-17, 2019 at Africa Union Hall.
President and CEO of CBE, Ato Bacha Gina said on the occasion the bank has mostly exceeded the financial goals it set for the fiscal year.
He explained that the gross profit earned is much higher than last year’s 10.9 billion birr.
The bank’s total asset has also reached 712 billion birr, registering 145 billion birr increase in just a year, Ato Bacha added. .
According to the President and CEO, the bank has mobilized 87.3 billion birr deposit that pushed the total deposit to 541.2 billion birr.
USD 6.6 billion was also collected from remittance, export, and other sources.
Besides, the bank disbursed 129 billion birr loan in the fiscal year. It collected 68.8 billion birr loan in the budget year.
The Commercial Bank of Ethiopia opened 157 new branches in the year. As a result, the total number of branches reached 1,444. 
With respect to discharging its corporate social responsibility, CBE financially assisted the internally displaced people and took part in various national development projects.  
CBE executive management, directors and branch managers attended the meeting.