CBE Archives - Ethio Negari

08 Apr

Commercial Bank of Ethiopia Suspends Loans

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, CBE, comercialbankofethiopia, EthioNegari, Ethiopia, Ethiopianews

One of Ethiopia's oldest and wealthiest commercial banks has halted its lending operations, marking a significant development in the country's financial landscape. The decision comes amidst various procedures undertaken by the bank for loan disbursement, with reports indicating that even those already approved for loans are affected by the suspension. According to sources, customers who had been granted loan approval and were awaiting disbursement have been informed of the temporary suspension. Expressing their frustration, one such customer, preferring anonymity, recounted their experience of having their loan put on hold just as they were anticipating its release. Another customer shared a…

18 Mar

Commercial Bank of Ethiopia Discloses 2.6 Billion Birr Transaction within Six Hours

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, BankinginEthiopia, CBE, Commercialbankofethiopia, Cyberattack, EthioNegari, Ethiopia

The Commercial Bank of Ethiopia discloses a transaction amounting to 2.6 billion Birr in a single night. It was disclosed by the bank that a staggering 25,000 illegal money transfers occurred during the night of Friday, March 16, 2024. In response to this alarming revelation, the bank promptly formed a task force with the objective of investigating the perpetrators behind these illicit transactions and recovering the lost funds. Experts speculate that the breach may have originated from within the bank's digital infrastructure, suggesting a potential insider attack. The task force, comprising experts from the National Bank, Commercial Bank, and security…

07 Apr

Ethiopia’s biggest bank signs an agreement with Chinese Textile Company

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, B2BEthiopia, BankinginEthiopia, CBE, China, Commercialbankofethiopia, EthioNegari, Ethiopia

Commercial Bank of Ethiopia has signed a contract with a Chinese textile company to provide uniforms for its employees. The Commercial Bank of Ethiopia has announced that it has signed a contract with China's Jiangsu Sunshine Group to provide uniforms for its employees. Commercial Bank President Mr. Abe Sano discussed and signed an agreement with representatives of Jiangsu Sunshine Group about providing quality uniforms to employees. Mr. Abe explained that the bank allocated a large amount of money for the supply of uniforms and covered the cost for most of the employees, while middle and high-ranking bank employees and executives…

08 Feb

Commercial Bank of Ethiopia deposits have surpassed 1 trillion birr

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, assets, BankinginEthiopia, Bankservice, CBE, comercialbankofethiopia, EthioNegari, Ethiopia, Tigray

Commercial Bank of Ethiopia deposits have surpassed 1 trillion birr The Commercial Bank of Ethiopia has announced that deposits have surpassed 1 trillion birr. The bank's president, Abe Sano, tweeted that the bank's deposits have exceeded 1 trillion birr. For this, he sent a congratulatory message to all stakeholders, customers, and employees of the bank. Commercial bank of Ethiopia is state-owned and it's the second-largest bank organization in east Africa. The bank has resumed its service in Tigray regional state after two years of bloody war.

05 Sep

CBE signals optimism as gov’t projects approach final phase

ethionegari@gmail.com0 CommentsNewsAddisAbaba, CBE, EthioNegari, Ethiopia

The coming to conclusion of ongoing mega projects has loosened the shoulders of public owned financial giant, Commercial Bank of Ethiopia (CBE) which is now optimistic of the future as it continues in stride to capitalize on its maximum potential. Two months ago, during the onboard summit of the Ethiopian Investment Holding (EIH), the recently created sovereign wealth fund which accommodates 27 public enterprises, Abie Sano, President of CBE, expressed his views by stating that the government has to consider viewing the bank as a commercial bank as opposed to a policy firm. He elaborated that treating the financial enterprise…

28 Jul

Commercial Bank of Ethiopia (CBE) asset surpass the trillion birr mark to reach 1.2 trillion birr

ethionegari@gmail.com0 CommentsNewsAddisAbaba, CBE, EthioNegari, Ethiopia

CBE has reported that it has earned 27.6 billion birr gross profit for the 2021/ 2022 fiscal year. It has an incrment of 7.5 billion birr comapred with the year ended in June 2021.

30 May

Commercial banks lose 1.8 billion birr due to fraud

ethionegari@gmail.com0 CommentsBusinessADDIS ABABA, CBE, EthioNegari, Ethiopia

Banks have lost 1.8 billion birr due to fraud over the last four years, according to a new study undertaken by the Ministry of Justice. Commercial Bank of Ethiopia accounts for 51 percent of the money lost due to fraudulent activities. It is followed by Bank of Abyssinia (17 percent), Oromia (8.5 percent)and Wegagen (8.2%) banks. "Such activities is causing a mess in the banking industry," said Fekadu Tsega, state minister of Justice. The findings of the new study announced in an event that is currently being held at Sheraton Addis Hotel. "I don't recall such a study conducted previously,…