ADDIS ABABA – Commercial Bank of Ethiopia (CBE) has won the Global Business Outlook Award of 2019. The bank has been chosen as the best commercial bank of the year.
President of the Bank, Bacha Gina said that persistent profitability of the bank over a long period of time, speedy expansion, significant increase in number of customers, ability to finance development projects, and overall quality service of the bank are among the qualities of the bank that has made it the best.
Bacha noted that the bank has been among the best banks in Africa. However, such a global award is the first in the banks more than seven decades history. The bank has been providing financial support to various developmental projects in the country since its establishment. It has funded various local industries. Huge job opportunities have been created by the bank.
The bank has financed various mega power generating and infrastructural expansion projects. It is financing several housing projects, Sugar Projects, Train projects, and other developmental projects, he explained.
According to Bacha the bank provides financial support the agricultural projects by providing necessary inputs. It also has played an important role in importing pharmaceuticals, edible oil, wheat, sugar, oil lubricant and other consumer goods.
The bank also has supported the health, education, human and environmental protection, sectors.
The bank has about 62 thousand employees in its 1560 branches. Currently, the bank has over 23 million customers. The bank has a goal of becoming global standard bank by 2025, learnt from the press release.
The Ethiopian Herald February 14/2020
BY GETAHUN LEGESSE
