Addis Ababa, February 26, 2025 (ABN)
Ethiopian Investment Holdings (EIH) officials have conducted an evaluation of the Commercial Bank of Ethiopia’s (CBE) half-year performance for the 2017 Ethiopian fiscal year. The assessment took place at the bank’s headquarters and focused on key financial and operational achievements.
During the review, CBE presented its half-year performance report, highlighting a significant improvement in revenue generation and deposit mobilization. The report indicates that the bank has managed to strengthen its market share and achieve robust financial growth.
The bank has also shown remarkable progress in expanding its digital banking services. The evaluation revealed that the institution’s digital banking transactions have significantly increased, reflecting its commitment to modernizing financial services.
Another notable achievement includes a substantial reduction in non-performing loans, further enhancing the bank’s overall financial health. Additionally, the CBE Noor service has demonstrated excellent performance across various key indicators.
Despite progress in loan disbursement, challenges persist regarding loan accessibility and repayment structures, leading to concerns about customer satisfaction in this regard. The bank is currently developing a five-year strategic plan to address these issues and align its services with market demands.
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, emphasized the importance of sustaining CBE’s financial achievements and further expanding its market share. He highlighted the need for digitizing loan processes and improving accessibility to enhance customer satisfaction.
Dr. Brook also stressed the importance of continuing digital banking expansion while improving public awareness and literacy on digital financial services. Moreover, he revealed that CBE is working towards expanding its accessibility beyond Djibouti and South Sudan to other international markets.
In light of increasing competition from foreign banks entering Ethiopia, Dr. Brook underscored the necessity of adopting proactive strategies to maintain CBE’s market dominance. He assured that full institutional support would be provided to navigate the competitive financial landscape effectively.
