ADDIS ABABA – The Commercial Bank of Ethiopia (CBE) says more than 1.3 trillion Birr worth of transactions have been carried through its digital payment platforms since July.
Senior managers of the state-owned bank are currently reviewing its first quarter performance at the CBE Headquarters meeting hall.
Today, the bank says its customers made over 245 million transactions during the three-month period.
CBE officials put the total value of these transactions at more than 1.3 trillion Birr. The amount equates to the total value of the digital transactions made in the first half of the previous 2022/23 fiscal year.
The recent increase in the adoption of digital payment systems in the country saw CBE’s digital payment channels transact more money than its tellers for the first time last year. At least 60% of CBE’s total 750 million transactions were conducted digitally.
Apart from its mobile and internet banking service users, Ethiopia’s richest financial institution has more than 8.3 million active ATM card holders and 17 million CBE Birr customers, per its website.
Established in 1942 with a capital of one million Maria Theresa Thaler (MTT) and two branches in Addis Ababa, the bank has a network of 1,900 branches, serving over In addition to nearly 38 million account holders.
CBE’s total asset value reached 1.2 trillion at the end of the 2022/23 fiscal year, maintaining its position as the richest financial institution in the country.
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