The net profit of the bank reached 777 million birr. As the premier financial investigators in the world, and the only federal agency authorized to investigate federal income tax. Financial performance of the ethiopian banking sector. Mar 19, 2018 download our 2017 annual report and learn important information regarding central bank. Annual public sector debt portfolio report for the year. Ethiopia aims to reach lowermiddleincome status by 2025.
Birr profit, the commercial bank of ethiopia cbe has earned a gross profit of 17. I work at commercial bank of ethiopia for 8 years from the teller position to my recent positions and i got many experience in my job i learn about the banking industry, how to work as a team with staff members of the branch and i worked with customers and it helps me to know the customer service area and also in my recent job i work international banking department. Lbb00799 in accordance with the commercial code of ethiopia and the proclamation for licensing and supervision of banking business proclamation no. Headquartered in addis ababa, the bank is the biggest private bank in ethiopia. Please be mindful of fake sites run by fraudulent parties posing as gtbank or its affiliates. Commercial bank of ethiopia financial records the banker. Guaranty trust bank is a leading african bank that offers onlineinternet banking, retail banking, corporate banking, investment banking and asset management important notice. The adoption of automatic teller machines in commercial bank of ethiopia. Evidences from commercial banks of ethiopia semantic scholar. Zequala complex, jomo kenyatta avenue, addis ababa, ethiopia. Prior to this proclamation, the bank used to carry out dual activities, i. For the year the bank has earned close to 32 billion birr in revenue.
This report has been prepared in accordance with the gri standards. The nations biggest bank said its revenue for the just. The banking law also allowed the formation of private domestic. Danske bank annual report 2017 07 executive summary we delivered a strong financial result for 2017, says thomas f. Nov 28, 2015 on this page you can read or download commercial bank of ethiopia exam pdf in pdf format. Nib international bank nib was established on 26 may 1999 under license no. Economist and cottl, mesfin girma economist and cottl, ruth hill sr. Download our 2017 annual report and learn important information regarding central bank. For credit ratings that are derived exclusively from an existing credit rating of a program, series, categoryclass of debt, support provider or primary rated entity, or that replace a previously assigned provisional rating at the same rating level, moodys publishes a rating announcement on that series, categoryclass of debt or program as a whole, on the support provider or primary.
We produce this report to help our stakeholders and those who are interested in adb gain a deeper understanding of our organization and its operations. On this page you can read or download commercial bank of ethiopia exam pdf in pdf format. Having commenced reporting in line with the iirc framework in 20, this integrated report is consistent with our usual annual reporting cycle for financial and sustainability reporting and follows our most recent report for the year ended december 31, 2017, for which comparatives are given. The bank disclosed in its annual performance for the 201617 financial that it has registered massive progresses in every aspect of the banking activity.
It is indeed an honor and privilege for me to present wegagen banks fy 201718 annual report to the general assembly of shareholders of the bank. It is grounded in ethiopias ancient laws and customs and has. With weak investment prospects in many developing countries and recession risk in europe, it has become even more urgent for the bank groupibrd, ida, ifc, and migato step up. Incorporated in 1963, commercial bank of ethiopia cbe is one of the leading banks in ethiopia. Ethiopias real gross domestic product gdp growth decelerated to 7. Commercial bank and the sale of our share in the philippinesbased.
This is a clear, comprehensive, and detailed record of our operations, activities, and financial results over the past year. No derivative worksyou may not alter, transform, or build upon. Binyam teshomeworld bank the world bank group wbg, with private and public sector partners, set an ambitious target to achieve universal financial access ufa by 2020. Jun 18, 2018 low mobile phone subscription is usually blamed for low mobile money account penetration in ethiopia. Ethiopian based progressive and modern banking institution, endowed with a strong financial structure and strong management, as well as a large and everincreasing customers and correspondent base. If you dont see any interesting for you, use our search form on bottom v. Commercial bank of ethiopia annual report 2011 pdf. Commercial bank of ethiopia cbe awash international bank 1 list of licensed banks in ethiopia, national bank of ethiopia website, accessed october 20,2016 2 ethiopia. Commercial banks opened 807 new branches in 201819 alone which increased the total. On this page you can read or download commercial bank of ethiopia annual report 2011 pdf in pdf format. The state owned financial giant, commercial bank of ethiopia cbe, total assets will soon climb to a half trillion birr. Ethiopia market overviewethiopia market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. Ethiopias economy experienced strong, broadbased growth averaging 9.
Report boundary the financial statements depict the. According to nbe,2017 annual report, the sample banks market share in. The state owned financial giant, commercial bank of ethiopia cbe, total. The ethiopian financial sector has been broadly safe, sound, well capitalized and profitable. The report gives us an opportunity to reflect on the many successes we have had as an agency throughout the past year. In its annual report, the internal displacement monitoring centre idmc says nearly 46 million people, almost twice the global number of refugees. The 5 largest banks, which are all stateowned, account for 90% of all banking assets and just one commercial bank of ethiopia cbe owns 70% of deposits. The ufa goal envisions that, by 2020, adults globally will be able to have access to a. This report, our 2018 annual report, details our performance, governance framework and how we have remunerated our documents available at senior executives in light of that performance. Annual report commercial bank of ethiopia national. Berhan conducted its 10th ordinary and 5th extra ordinary annual general shareholders meeting press release berhan international bank s. This report, our 2018 annual report, details our performance.
Creative commons attributionnoncommercialnoderivatives 3. Mobile money schemes, hellocash and mbirr launched the africa report, february 5, 2015 3 ethiopia launches mobile money to extend banking reach reuters, february 4, 2015. Commercial international bank cib egypt annual report. Noncommercialyou may not use this work for commercial purposes. You may use the site and the contents for lawful purposes only. In ethiopia, women account for a disproportionate share of the unbanked, and the gap is widening. The result reflects continued progress in the nordic economies, a high level of customer activity throughout the year and our business initiatives aimed at. This was disclosed at the annual performance evaluation meeting of the bank held from august 1617, 2019 at africa union hall.
Commercial international bank cib is the leading private sector bank in egypt, offering a broad range of financial products and services to its customers, which include enterprises of all sizes, institutions, households and highnet worth individuals. May 2020 ethiopian banks profit latest ethiopian news. Banks in ethiopia overview and guide to banks in ethiopia. Annual public sector debt portfolio report for the year 201718.
We are your partner in your sharia compliant banking. Sep 14, 2017 the state owned financial giant, commercial bank of ethiopia cbe, total assets will soon climb to a half trillion birr. National bank of ethiopia nbe, the financial industry had been able to. The bank pioneered modern banking services and launched the first atm service for local users. There is concern that the appreciated currency does not help improving export competitiveness. The national bank of ethiopia was established in 1963 by proclamation 206 of 1963 and began operation in january 1964. For credit ratings that are derived exclusively from an existing credit rating of a program, series, categoryclass of debt, support provider or primary rated entity, or that replace a previously assigned provisional rating at the same rating level, moodys publishes a rating announcement on that series, categoryclass of debt or program as a whole, on the support provider or primary rated. Ethiopia nationalized private banks and other financial institutions in 1974, but the banking sector remains small and dominated by the government with stateowned banks. Dashen bank coined its name from the highest peak in the country, mount dashen, and aspires to be bestinclass bank in africa. The bank disclosed in its annual performance for the 201617 financial that it. Below is a list of financial results for commercial bank of ethiopia, addis ababa. Largescale and unprecedented protests swept through ethiopias largest region of oromia beginning in november 2015, and in the amhara region from july 2016. Largescale and unprecedented protests swept through ethiopias largest region of oromia beginning in november 2015, and in the amhara region from. Commercial bank of ceylon plc annual report 2017 5 the annual report 2017 follows our most recent report for the year ended december 31, 2016 for which you will find comparatives within this report.
Bank of abyssinia abyssinia bank announced in the annual shareholder meeting that it has made a gross profit of 1. C was formed in accordance with article 304 of the commercial code of ethiopia. This figure showed an increase of 258 million birr compared to last years result. It operates a network of 1,250 branches and 1,501 atms across ethiopia. I am excited to share the fy 2017 irs criminal investigation annual report. Contents 89 1016 2021 22 23 24 2535 statement of the board chairman the presidents message board of directors report.