The history of the Commercial Bank of Ethiopia (CBE) dates back to the establishment of the State Bank of Ethiopia in 1942. CBE was legally established as a share company in 1963. In 1974, CBE merged with the privately owned Addis Ababa Bank. Since then, it has been playing significant roles in the development of the country.
CBE is the pioneer to introduce modern banking to the country. It has more than 1280 branches stretched across the country. The leading African bank with assets of 565.5 billion Birr as on June 30th 2018. Plays a catalytic role in the economic progress & development of the country. The first bank in Ethiopia to introduce ATM service for local users.
Currently, CBE has more than 18.8 million account holders and the number of Mobile and Internet Banking users also reached more than 1,736,768 as of June 30th 2018. Active ATM cardholders reached more than 4.4 million. As of June 30, 2018, 1708 ATM machine and 11,796 POS machines were available.
It has a strong correspondent relationship with more than 50 renowned foreign banks like Commerz Bank A.G., Royal Bank of Canada, City Bank, HSBC Bank,... CBE has a SWIFT bilateral arrangement with more than 700 others banks across the world.
CBE combines a wide capital base with more than 33,000 talented and committed employees. Pioneer to introduce Western Union Money Transfer Services in Ethiopia early 1990s and currently working with other 20 money transfer agents like Money Gram, Atlantic International (Bole), Xpress Money,...
CBE has opened four branches in South Sudan and has been in the business since June 2009. CBE has reliable and long-standing relationships with many internationally acclaimed banks throughout the world