CBE obtains $ 2.3 bln foreign exchange in six months

Addis Ababa, February 9, 2016 (FBC) – The Commercial Bank of Ethiopia (CBE) has obtained 2.3 billion US dollars foreign exchange in the first half of this Ethiopian Fiscal Year.
Out of the total, export trade generated 292.1 million US dollars, while 2.06 billion US dollars was obtained from remittance.

The bank also made available close to 39.4 billion birr in loan and bond sale for various development projects.

The bank managed to collect 18.4 billion birr deposit in the first half of the budget year, thus increasing its total deposit to 260.2 billion birr from 241.7 billion.

The bank’s total asset has reached 330.5 billion birr. It also earned 12.8 billion birr income before tax.

The bank added 1.2 million new clients in the first half of the budget year.

As part of the efforts to increase its reach, the bank raised the number of its branches to1,000, according to ENA.