In the fiscal year 2021/22, the state-owned Commercial Bank of Ethiopia (CBE) earned birr 27.5 billion in gross profit.
According to the report released today at a press conference, the bank serves its customers with more than 2,000 branches, 5.4 million CBE birr mobile money users and 2,766 ATMs. The total deposit amount mobilized is 890.1 billion birr. With 70,000 employees, the bank had the largest workforce in the financial industry.
CBE assets now total 1.2 trillion birr, surpassing the one trillion-birr mark.
In the fiscal year 2020/21, the state-owned Commercial Bank of Ethiopia (CBE) dominated the banking sector, accounting for nearly half of net profits and the majority of assets and capital. CBE’s total revenue reached an all-time high of 80.86 billion ETB in the same period. Similarly, the bank has reported birr 14.2 billion net profits in 2020/21.
DISCLAIMER
The opinions expresses here in the post "CBE Reported A Gross Profit of Birr 27.5 Billion" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.
