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| The '''Commercial Bank of Ethiopia''' is the largest bank in ], accounting for perhaps somewhere between 70% and 90% of the commercial banking market. The bank has 191 ] scattered over the main cities and towns including 45 branches in ]. The Bank recently opened new branches in |
The '''Commercial Bank of Ethiopia''' is the largest bank in ], accounting for perhaps somewhere between 70% and 90% of the commercial banking market. The bank has 191 ] scattered over the main cities and towns including 45 branches in ]. The Bank recently opened new branches in the tourist towns of Lalibela and Sofoumer. The bank had one branch in ], which ceased operation recently. | ||
| ==History== | ==History== | ||
| In 1963 the Ethiopian government split the ] (est. 1943) into the ] and the Commercial Bank of Ethiopia (CBE). CBE established a branch in ] that the Sudanese government nationalized in 1970. Then in 1980 the Government merged ] into the Commercial Bank of Ethiopia to make CBE the sole commercial bank in the country. (The government had created Addis Bank from the merger of the newly nationalized ], and the Ethiopian operations of ] and ]. Addis Abba Bank was an affiliate that ] bank had established in 1963 and of which it owned 40%. At the time of nationalization Addis Ababa bank had 26 branches.) In 1994, the government reorganized and reestablished CBE. |
In 1963 the Ethiopian government split the ] (est. 1943) into the ] and the Commercial Bank of Ethiopia (CBE). CBE established a branch in ] that the Sudanese government nationalized in 1970. Then in 1980 the Government merged ] into the Commercial Bank of Ethiopia to make CBE the sole commercial bank in the country. (The government had created Addis Bank from the merger of the newly nationalized ], and the Ethiopian operations of ] and ]. Addis Abba Bank was an affiliate that ] bank had established in 1963 and of which it owned 40%. At the time of nationalization Addis Ababa bank had 26 branches.) In 1994, the government reorganized and reestablished CBE. | ||
| Recently the government has again reengineered CBE and signed a contract with ] to provide management consultancy services to CBE. After the death of its former President, Mr. Gezahegn Yilma, the Board of Management appointed Mr Abie Sano as a new President of the Bank. The Bank's capital is recently raised to 4 billion Ethiopian Birr by the rule of the parliament. | |||
| ==External links== | ==External links== | ||
Revision as of 20:11, 28 November 2007
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| ] | |
| Company type | ~ |
|---|---|
| Industry | Finance |
| Founded | 1943 |
| Headquarters | Template:Country data country Addis Ababa |
| Products | Financial services |
| Revenue | ~ |
| Number of employees | ~ |
| Website | http://www.combanketh.com/ |
The Commercial Bank of Ethiopia is the largest bank in Ethiopia, accounting for perhaps somewhere between 70% and 90% of the commercial banking market. The bank has 191 branches scattered over the main cities and towns including 45 branches in Addis Ababa. The Bank recently opened new branches in the tourist towns of Lalibela and Sofoumer. The bank had one branch in Djibouti, which ceased operation recently.
History
In 1963 the Ethiopian government split the State Bank of Ethiopia (est. 1943) into the National Bank of Ethiopia and the Commercial Bank of Ethiopia (CBE). CBE established a branch in Sudan that the Sudanese government nationalized in 1970. Then in 1980 the Government merged Addis Bank into the Commercial Bank of Ethiopia to make CBE the sole commercial bank in the country. (The government had created Addis Bank from the merger of the newly nationalized Addis Ababa Bank, and the Ethiopian operations of Banco di Roma and Banco di Napoli. Addis Abba Bank was an affiliate that National and Grindlays bank had established in 1963 and of which it owned 40%. At the time of nationalization Addis Ababa bank had 26 branches.) In 1994, the government reorganized and reestablished CBE.
Recently the government has again reengineered CBE and signed a contract with Royal Bank of Scotland to provide management consultancy services to CBE. After the death of its former President, Mr. Gezahegn Yilma, the Board of Management appointed Mr Abie Sano as a new President of the Bank. The Bank's capital is recently raised to 4 billion Ethiopian Birr by the rule of the parliament.
External links
References
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