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Commercial Bank of Ethiopia Raises Loan Service Charges Commercial Bank of Ethiopia (CBE), Ethiopia's largest bank, announced that it has raised loan service charge rates to 9.8 percent, from the previous 8.63 percent. Abe Sano, CBE's president, remarked that the raise in interest rates is aimed at balancing the income and expense rates of the bank. Mr. Abe noted that the bank's income has been increasing at a yearly average of 26 percent, against a 39 percent increase in expense during the past five years. The largest bank in East Africa, CBE has secured a profit of 7.4 billion birr ($184.45...

capital Newspaper The financial giant Commercial Bank of Ethiopia (CBE) has adjusted its loan interest rate by at least 1.17 percent from the previous 8.63 percent, while its decision is expected to reflect on other banks’ minimum interest rate for loan provisions. This is in light of the bank undergoing major reform. The financial sector experts said that the decision that is taken by CBE, a public financial firm, is most probability followed to minimize its cost and narrow the stipulation with the private banks, who currency are charging up to 21 percent interest. “Meanwhil...

Views: Visits 15 Ethiopian Bankers’ Association (EBA) has donated over 200 million Birr, the largest sum which has so far been provided by a single entity, for the victorious Ethiopian Defense Forces (ENDF) and for the rehabilitation of displaced people due to unrest. EBA’s President Abe Sano handed the stated sum for ENDF Foreign Relations Head, Colonel Yunus Mulu. Attending the event as a guest of honor, Addis Ababa City Administration Deputy Mayor Adanech Abebe expressed appreciation for the noble contribution member banks of the EBA have made to support government’s law enf...