Central Bank Avails 1.2 billion Dollars to State Bank

National Bank of Ethiopia (NBE) availed 1.2 billion dollars to Commercial Bank of Ethiopia (CBE) in the past six months. President of CBE, Bacha Gina, while opening the mid-year general assembly of the state giant, disclosed that his bank able to get USD1.2 billion from Central Bank.

CBE mobilized three billion dollars during just the first half of the current financial year. Of this, approximately USD1.2 billion dollars was collected from remittance, including swift and personal transfers from abroad. The remaining forex was collected from exporters.

CBE also announced it has grossed an income of ETB32 billion in the past six months, while its total deposit held by private entities, including individual depositors, has reached ETB393 billion as of the end of last fiscal year.