The Commercial Bank of Ethiopia (CBE) has announced a general positive assessment of its banking operations in the first six months of 2017/18.

The bank maintained commendable performance in deposit mobilization, loan collection and disbursement, implementing and expanding modern banking according to the bank’s president, Bekalu Zeleke. The remark was made during the half-year performance evaluation of CBE held recently at Hawassa, the regional capital of Southern Nations, Nationalities, and People’s State.

The president further pointed out that the bank’s total asset has surpassed half a trillion birr (515 billion birr) while total deposit of the bank has surged to 409 billion. He added that the Bank has managed to mobilize over 44 billion birr incremental deposit in the past six months alone. The number of account holders of the bank has been growing consistently and has risen above 17 million.

According to the performance report presented by Director of the Office of Strategy Management, Woy. Sosina Mengesha, during the first six months period the bank managed to collect  25 billion birr from loans and disbursed a fresh loan of 40 billion birr.

The report further stated that as part of the bank’s continuous effort to enhance accessibility, in the last six months a number of new branches were opened in various areas of the country to bring the total branch network to 1249. E-banking services being another vital part of accessibility, the bank issued 962,000 cards while registered 330,000 active customers for mobile banking.