CBE declares over 13 bln Birr gross profit | The Reporter Ethiopia English

The Commercial Bank of Ethiopia (CBE) said it has registered 13.4 billion Birr gross profit during the past nine months of the Ethiopian budget year.

This was disclosed on Wednesday at a performance evaluation meeting which opened at the Headquarters of CBE.

Opening the meeting, CBE President and CEO Abe Sano said the bank achieved 82.4 percent of the 124.4 billion Birr deposit target during the nine months. The total deposit of CBE is now close to 700 billion Birr.

Speaking about foreign currency earning, he pointed out that CBE earned a total of USD 216 million as well as USD 2.13 billion in remittances during the period.

Despite the achievements, Abe noted that the bank has been facing different challenges such as loan collection, shortage of foreign currency, COVID-19, and security problems in some parts of the country.

According to the president, the CBE is reinforcing critical financial reforms that have brought about confidence to achieve the vision. (ENA)


AG freezes 6.7 bln birr owned by TPLF

The Attorney General announced an embargo on the outlawed TPLF group to prevent it from using 6.7 billion Birr for illegal activities.

In addition, the Attorney General also announced that a warrant has been issued for the confiscation of 97.5 million Birr, which was run by the criminal TPLF group.

Asset Recovery Directorate General at the Attorney General, Alemante Agidew stated that successful investigations have been carried out in outlawing organizations and properties of military officers involved in the war alongside TPLF.

The money laundry has been effectively intercepted through close investigations undertaken into financial and property assets of treasonous military officers, who were fighting alongside TPLF against the national army.

Meanwhile, investigation undertaken into three civil society organizations, which were under the leadership of some members of the TPLF, has contributed to the successful banning of illicit finances.

Regarding the…

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