Commercial Bank of Ethiopia
The Commercial Bank of Ethiopia (CBE, Amharic የኢትዮጵያ ንግድ ባንክ yä-Ityoṗṗya Nəgədə Bank , German “Ethiopian Commercial Bank” ) is the largest bank in Ethiopia with a market share of 74.1 percent (June 2004). The state financial institution has 453 branches (November 2011), which are spread across the country's main cities, and a branch in neighboring Djibouti .
history
In 1963, the Ethiopian government split the Ethiopian State Bank, founded in 1943, into the Ethiopian National Bank , the Central Bank and the Commercial Bank of Ethiopia. In order to merge the existing banks into a single one, the then socialist government integrated the Addis Bank into the CBE in 1980 . Addis Bank emerged from the government's merger of the nationalized Addis Ababa Bank and the Ethiopian subsidiaries of Banco di Roma and Banco di Napoli . At the time, Addis Ababa Bank had 26 branches.
In 1994 the government reorganized and reopened the bank. The institution has recently been restructured again by the government and a contract has been signed with the Royal Bank of Scotland to provide management advice.