About CBE

 The history of the Commercial Bank of Ethiopia (CBE) dates back to

the establishment of the State Bank of Ethiopia in 1942.
 CBE was legally established as a share company in 1963.
 In 1974, CBE merged with the privately owned Addis Ababa Bank.
Since then, it has been playing significant roles in the development of
the country.
 Pioneer to introduce modern banking to the country.
 It has more than 1140 branches stretched across the country.
 The leading African bank with assets of 384.6 billion Birr as on June
30th 2016.
 Plays a catalytic role in the economic progress & development of the
country.
 The first bank in Ethiopia to introduce ATM service for local users.
 Currently CBE has more than 13.3 million account holders and the
number of Mobile and Internet Banking users also reached more than
1,352,000 as of September 30th 2016 (68% active users). Active ATM
card holders reached  more than 3 million (61% active users).
 It has strong correspondent relationship  with more than 50 renowned
foreign banks like Commerz Bank A.G., Royal Bank of Canada, City
Bank, HSBC Bank,...
 CBE has a SWIFT bilateral arrangement with more than 700 others
banks across the world.
 CBE combines a wide capital base with more than 29,000 talented and
committed employees.
 Pioneer to introduce Western Union Money Transfer Services in
Ethiopia early 1990s and currently working with other 20 money
transfer agents like Money Gram, Atlantic International (Bole), Xpress
Money,...
 CBE has opened four branches in South Sudan and has been in the
business since June 2009.
 CBE has reliable and long-standing relationships with many
internationally acclaimed banks throughout the world

 
COMMERCIAL BANK OF ETHIOPIA
Download full Profile here
VISION

To become a world-class commercial bank by the year 2025.

MISSION
We are committed to best  realize stakeholders' needs through enhanced financial
intermediation globally and supporting national development priorities, by deploying highly
motivated, skilled and disciplined employees as well as state-of-the-art technology. We
strongly believe that winning the public confidence is the basis of our success.

VALUES
1.   Integrity

o    We are committed to the highest ideal of honor and integrity.

o    We strive to act in an honest and trustworthy manner.

o    We firmly adhere to ethical principles.

2. Customer Satisfaction

o    We strive to excel in our business and satisfy our customers.

o    We are committed to offer the highest quality service to our customers and
aspire to be branded with quality in the minds of our customers and the
general public.

3.  Employees Satisfaction

o    We are committed to employee training and professional growth.

o    We distinguish our employees as valuable organizational resources.

o    We recognize our employees as valuable organizational resources.

 4. Learning Organization

o    We are committed to anticipate and respond to internal and external

changes through constant improvement and adaptation.

o    We strive to establish a culture that nurtures individual and group learning.

5.   Teamwork and collaboration

o    We recognize the importance of teamwork for our success.

o    We support to one another and working co-cooperatively.

6. Public Trust

o    We understand that the sustainability of our business depends on our

ability to maintain and build up the public's confidence.

7.    Value for Money

o    We use resources carefully to save expense, time or effort.

o    We deliver the same level of service for less cost, time or effort.

o    We deliver a better service or getting a better return for the same amount
of expense, time or effort.

        8. Decentralization

o We are committed to delegate operations and decision-making

responsibilities.

        9. Corporate Citizenship

o We value the importance of our role in national development endeavor

and step-up for commitment.
o We abide by the law of Ethiopia and other countries in which we do
business.
o We care about society's welfare and the environment.

Join the leading Player

 Commercial Bank of Ethiopia
The bank you can always rely on!
The Commercial Bank of Ethiopia has instituted new way of doing activities
after reengineering its one of the core business processes-Customers’
Account & Transaction Services.

Products and services under the redesigned CATS process:

 Account Opening (LCY and FCY)

 Deposit (cash/Negotiable instruments)
 Payment
 Cheque clearance
 Money transfer (FCY/LCY)
  Savings account is an interest bearing deposit that CBE
renders for physical and legal persons (Individuals,
organizations and associations) who can fulfill the Bank’s
requirement and are legal.

 The minimum balance to open a savings account should be

Birr 25.00. However, Savings account may be opened and
maintained with zero balance for one month.

 Within one month, the account holder should credit at least a

minimum of Birr 25.00 in his/her account. However, if the
account is not credited in the specified period, it should be
closed following the normal account closing procedure.

 Feature

 The minimum balance to open a savings account is birr 25.00. Savings

account, however, may be opened and maintained with zero balance
for one month.
 Savings account opened and maintained with zero balance will be
closed unless the minimum amount of birr 25.00 is deposited within
the specified period.
 Can be opened and/or operated by a legal agent in the name of
principal, against producing a power of attorney.
 No maximum balance limit
 Individuals, organizations, financial institutions, associations, clubs,etc
can open and use this account
 Can be operated jointly(AND or AND/OR)
 Can be opened for the benefit of

A.      Minors( under aged individuals)

 B.      Interdicted persons

C.      Bankrupt firms in liquidation

 Benefit

 Interest bearing(5%), compounded………… and calculated…… basis

o Meets financial requirement for
o Emergency
o Old age
o Specific needs
o Future investment
 Security from fire and theft
 Card convenience(provides access to ATMs to withdraw, enquire about
balance, etc))
 Monitor and control funds through passbook
 Interbranch network to withdraw fund

 Required Document

1. Individual trader
o One valid and renewed I.D. card
o Two recent passport size photograph
o Tax Identification Number (TIN)
2. Private Limited Company
o Renewed Trade License 
o Memorandum and article of association
o Letter of request to open and operate the account, signed by the
authorized person
o Valid and renewed I.D. card of the authorized person to operate
the account
o Tax Identification Number (TIN)
  Demand Deposit Account (current or checking account) is a
non-interest bearing account and is opened or operated by
literate customers only.

 Demand deposit account can be opened and/or operated by a

legal agent in the name of principal, against producing a
power of attorney, which shall be attested by the bank’s legal
service department or area offices or branch managers, as
the case may be.

 The minimum amount required by the bank to open a current

account for individuals or individual trader is birr 500 and for
others birr 1000.

 Benefit

 Facilitates Business Transactions

 Efficient method of paying bills
 Safe method of Transmitting payments
 Reduces the risk of losing money and theft
 Eligibility Card Banking Services

 Feature

 Minimum balance to open this account is birr 500.00 for an individual

and birr 1000.00 for organization
 Can be opened and/or operated by a legal agent in the name of
principal against producing a power of attorny
 Can be operated jointly(AND or AND/OR)

 Required Document

1. Individual trader
o One valid and renewed I.D. card
o Two recent passport size photograph
o Tax Identification Number (TIN)
2. Private Limited Company
o Renewed Trade License 
 o Memorandum and article of association
o Letter of request to open and operate the account, signed by the
authorized person
o Valid and renewed I.D. card of the authorized person to operate
the account
o Tax Identification Number (TIN)

These types of accounts are opened for Ethiopians living abroad

(who live more than one year abroad) and Ethiopians by origin but
with different nationalities that are referred as eligible Ethiopians.

Types

I. Fixed (Time) Deposit Account

 It is an interest bearing account with agreed maturity date

 The minimum maturity period is three months.
 It is opened with an initial deposit of US Dollar 5,000 or its equivalent in any
of the above stated currencies.
 Interest on such accounts shall be payable only if they are maintained at
least for the minimum period.
 Interest income on such accounts is tax-free.

II. Current Account

 It is operated by cheque book.

 Withdrawals can be made at any time by writing a cheque.
 It can be opened with an initial deposit of US Dollar 100 or
 Its equivalent in any of the above stated currencies.
 The maximum amount to be deposited shall not exceed U
 Dollar 50,000 or its equivalent in any of the above stated currencies.
 Interest shall not be paid to a non-resident foreign currency    current
account.

   III.  Non-repatriable Birr account which may take  the form of saving
deposit, that can be used for local payments only.

 Interest rate on such accounts shall be double of the   minimum saving

deposit rate set by the National Bank of Ethiopia, currently it is 10%.
 Money can neither be transferred from this account abroad   nor from the
local currency to any foreign currency.
  Opening of the Account

 Persons residing abroad can open the account in person or by post

in his/her name.

 Applicants who could not be physically present to open the  

account in the domestic banks can use the Ethiopian Embassies,
Correspondent Banks or nearby remittance service providers to
prove their identities.

 Opening of a foreign currency account by Power of Attorney

holders is not allowed.  However, Power of Attorney holders are
allowed to withdraw from these accounts provided that the Power
of Attorney explicitly empowers them to operate these accounts.

 An individual may open current account in only one of the domestic

banks whereas he/she may open fixed deposit accounts in more
than one bank.

 Feature

 It is a deposit account targeted for Ethiopians in Diaspora to open

and use foreign currency account at home country.
 Individuals and companies can open this account.
 This account can serve as collateral to get credit in local currency
from domestic banks in line with the opening bank’s credit policy.
 Deposit is made in one or more of the following currencies:  

 US Dolla
 Pound Sterling
 Euro

 Deposits that are made in other convertible currencies such as

Canadian Dollar, Saudi Riyal, Japanese Yen, Australian Dollar and
UAE Dirham shall be converted to any of the above stated three
currencies at spot exchange rate based on the preference of the
account opener.

 Eligibility Critrea

 Non-resident Ethiopian Nationals living and working outside

Ethiopia.

 Non-resident foreign nationals of Ethiopian origin.

 Companies owned by the above-mentioned non residents and

located outside the Ethiopian territory for more than one year.
  Ethiopian nationals living and working abroad or in due process of
living abroad for work for more than one year and who can
produce authenticated documents.

 Required Document

 Application forms properly filled and signed by the applicant.

 For Ethiopians or foreign nationals of Ethiopian origin individuals,

valid passport and/or identification card.

 For businesses, Certificates of ownership entitlement for  the

organization and/or Articles and Memorandum of Association.

The Trade Service is one of the core processes of the bank entrusted with
the task of international banking  services.

The services are now  provided at all branches of the bank with a single
contact point of customer service relationship officers assigned for this
purpose only.

The following are major services provided:

 Documentary credit (L/C): is a written undertaking by a bank given

to the seller at a request and/or the instruction of the buyer to make
payment or accept and pay bill of exchanging (draft) drawn by the
seller up to a stated sum of money within a prescribed time limit and
against stipulated documents.

 Import-available by sight payment/negotiation

payment/deferred payment*/acceptance payment*

 Export-payment available by sight/negotiation/acceptance of

bills

*If approved by the National Bank of Ethiopia

 Documentary collection: is a method through which banks handle a

seller’s commercial documents with or without financial documents in
accordance with instructions received from the seller in order to deliver
the documents to buyer (importer) against payment and/or
acceptance or against other terms and conditions.

 Import-available by sight payment

  Export-available by sight payment/acceptance payment

 Advance payment: is a method through which a seller receives

payment from a buyer prior to shipment or the agreed upon goods or
rendering the agreed upon service.

 Import-Payment though bank transfers

 Export-Payment through bank transfers, traveler cheques, cash

(as long as it is declared).

 Consignment basis payment: It is a method of payment in which

the title to the goods remains with the seller until an agent
(distributor) in foreign country sells them. Payment is made to the
seller if and when the agent (distributor) sells the goods.

Export- it is applicable to perishable items: fruits, flowers, meat,

molasses, etc as approved by the National Bank of Ethiopia

 Guarantee: A letter of guarantee issued by an issuing bank/guarantor

is a written undertaking by the bank to compensate (pay sum of
money) to the beneficiary (local or foreign) in the event that the
obligator/principal fails to fulfill his/her /its obligations in accordance
with the terms and conditions of the guarantee.

·                             Types of guarantee:

 Bid bond
  performance bond
  advance payment guarantee
  loan guarantee, retention guarantee
 customs duty guarantee

 Franco  valuta license(permit): is a license issued to importers of

goods on which no foreign exchange is payable.

·  

 Small export items license (permit): is a license issued for small

export items to tourists, foreign residents of Ethiopian nationals who
wish to take souvenir, samples, gifts, repairs, replacements,
exhibitions and personal effects and belongingness, etc.

Eligibility criteria/conditions
Customers that request the above products of Trade Service, except
guarantee should fulfill the following criteria:

 Should maintain current account with the bank

 Should be in the possession of valid trade license for import /export as

appropriate or business license or investment or industry license or
must exist in the list of budgetary government organizations issued by
the National Bank of Ethiopia. In case of non-government organization,
certificate issued by the Ministry of Justice, Regional Governments and
offices authorized by proclamation.

 Should have Tax Identification Number(TIN)

 Should not be reported as delinquent by the NBE

The exchange of one currency for another, or the conversion of one currency into another
currency. CBE is trading with 19 currencies in the form of cash and/or transfers.
United States Dollar USD
Great Britain Pound Sterling GBP
European Union Euro EUR
Swiss Frank CHF
Swedish Kroner SEK
Norwegian Kroner NOK
Danish Kroner DKK
Djibouti Frank DJF
Japanese Yen JPY
Canadian Dollar CAD
Saudi Riyal SAR
United Arab Emirates Dirham AED
Central African Franc XAF
Indian Rupee INR
Kenyan Shilling KES
Australian Dollar AUD
Special Drawing SDR
South African Rand ZAR
Chinese Yuan CNY
Foreign money transfer companies that are currently working with the bank:

 Name Western Union

Address: www.westernunion.com

Name: Money Gram

Address: www.moneygram.com

Name: Atlantic International(Bole)

Address: -

Name:Blue Nile

Address: -

Name:Dahabshiil Transfer

Address: www.dahabshiil.com

Name: Money Transit

Address: www.moneytransit.com
Name; EMT Money Transfer

Address: -
Name: Xpress Money

Address: www.xpressmoney.com

Name:Golden Money Transfer

Address: -

Name: Lari Money Transfer

Address: -

Name:Tran Fast

Address: www.tranfast.com
 Name: Turbo Cash

Address: www.turbocash.com

Name TYFS

Address: 

Name:World com Finance

Address: -
 
Name: Birritu Express

  Address: www.birrituexpress.com

Name: Micro Finance International Alante

Address: www.mfi-crop.com
 

Name:Speed Remit

Address: www.sppedremit.com
 
 Correspondent Banks Social
Currency Name of the Bank Country City Medias
Swift Code/BIC
USD African Export Import Bank Egypt Cairo AFXM EGOfficial
CA
USD Alpha Bank AE Greece Athens CRBAGRAA Facebook
Bank of Africa - Mer Rouge (BOA- Link
Mer Rouge) Formerly Credit
USD Djibouti Djibouti MRIN DJ JD Offi
Agricole - Banque Indosuez Mer
Rouge cial
Twitter
Bank of Africa - Mer Rouge (BOA-
Link
Mer Rouge) Formerly Credit
DJF Djibouti Djibouti MRIN DJ Y
JD
Agricole - Banque Indosuez Mer
Rouge
BKID IN BB
INR Bank of India (Overseas Branch) India Mumbai
BOS
Banque de Commerce et de
EUR Switzerland Geneva  BPCP CH GG
Placements SA (BCP)
Banque de Commerce et de
USD Switzerland Geneva  BPCP CH GG
Placements SA (BCP)
GBP Barclays Bank Plc   UK London BARC GB 22
BHF Bank - Frankfurt am BHFB DE
EUR Germany
AKTIENGESELLSCHAFT  Main FF500
BNP-Paribas SA(Formerly Banque
EUR France Paris BNPA FR PP
Nationale De Paris)
CITI GB 2L
USD Citibank NA UK London
CB2
USD Citibank NA USA New York CITI US 33
GBP Citibank NA   UK London CITIGB2LCB2
Frankfurt am
CNY Commerzbank AG Germany COBA DE FF
Main
Frankfurt am
JPY Commerzbank AG Germany COBA DE FF
Main
Frankfurt am
CAD Commerzbank AG  Germany COBA DE FF
Main
Frankfurt am
EUR Commerzbank AG  Germany COBA DE FF
Main
CRESCHZZ80
CHF Credit Suisse AG Switzerland Zurich
A
DKK Danske Bank A/S Denmark Copenhagen DABA DK KK
Frankfurt am
EUR Deutsche Bank AG Germany DEUT DE FF
Main De
USD Deutsche Bank Trust Co, Americas USA New York BKTR US 33
DZ Bank AG Deutsche Zentral- Frankfurt am
EUR Germany GENO DE FF
Genossenschaftsbank Main De
INR ICICI Bank Limited India Mumbai ICICINBBNRI
 ING Belgium SA/NV(Formerly Bank BBRU BE
EUR Belgium Brussels
Brussels Lambert)  BB010
EUR Intesa Sanpaolo SpA Italy Milano BCIT IT MM
USD JPMorgan Chase Bank N.A. USA New York  CHAS US 33
KES Kenya Commercial Bank Limited Kenya Nairobi KCBL KE NX
USD Kenya Commercial Bank Ltd Kenya Nairobi KCBL KE NX
USD Lloyds TSB Bank Plc UK London LOYD GB 2L
Lloyds TSB Bank PLC (U.K
GBP UK London LOYD GB 2L
International Service) 
USD Mashreq Bank PSC UAE Dubai BOML AE AD
USD Mashreq Bank PSC USA New York MSHQ US 33
GBP National Westminster Bank Plc UK London NWBK GB 2L
USD National Westminster Bank PLC UK London NWBK GB 2L
EUR Natixis France Paris NATX FR PP
USD Natixis France Paris NATX FR PP
SEK Nordea Bank AB (Publ) Sweden Stockholm NDEA SE SS
NOK Nordea Bank Norge ASA Norway Oslo NDEA NO KK
AED Qatar National Bank Qata Doha  QNBAQAQA
Saudi
USD Saudi Hollandi Bank Riyadh AAAL SA RI
Arabia
SEK Skandinaviska Enskilda Banken  Sweden Stockholm  ESSE SE SS
USD Standard Chartered Bank USA New York SCBL US 33
SEK Svenska Handlesbanken AB (Publ) Sweden Stockholm HAND SE SS
The Bank of Tokyo-Mitsubishi UFJ
JPY Japan Tokyo BOTK JP JT
LTD  
USD The Export-Import Bank of China China Beijing EIBC CN BJ
The Royal Bank of Scotland PLC
USD UK London RBOS GB 2L
(RBS)
The Standard Bank of South Africa South
USD Johannesburg SBZA ZA JJ
LTD Africa
UBSW CH
CHF UBS AG H.O. Switzerland Zurich
ZH80A
EUR Unicredito S.P.A. Italy Milano UNCR IT MM

Internet Banking
24/7 ACCESS, ANYWHERE!

Through CBE’s Internet Banking, many transactions can be carried out from
the comfort of your home or office. The online services include:

 Viewing account balances and transactions.

 Making fund transfers between a customer's own current accounts and
savings accounts.
 Effecting payments to third parties, including bill payments to
predefined CBE customers within Ethiopia.
 Viewing and downloading Current and Saving account statements.
 Requesting for Stop Payments on cheques, etc.
 Applying for a Letter of Credit.
 …and more…

Banking Made Easy

24/7 ACCESS, ANYWHERE!

Using CBE’s Internet Banking facility, customers will benefit from our
Personal and Corporate Internet Banking services that are available, 24
hours a day, 7 days a week, from any location.
ATM 

CBE is the pioneer in introducing ATM to the country. With our ATM card,
you can bank 24 hours a day and 7 days a week.

Enjoy a host of services, including  

 cash withdrawals
 bill payments
 forex
 fund transfer
 mobile top up  
 balance inquiry, etc.

Our ATMs are installed at convenient places, including branches, hotels,

malls and other public places. 

List of ATM location in Addis Ababa

POS

Point of Sale Terminal (POS) is a computerized telecommunications device

that provides the customers with access to financial transactions in a public
space.

Using POS, card holders or customers can get the following services:

 cash advance
 various payments
 fund transfer
  mobile top up
 bill payment

CBE Reliable Visa Card

Reliable is a visa branded debit card issued by CBE to facilitate the exchange
of funds without paper or hard copy.

Reliable visa debit card is either domestic or international. The domestic card
is valid only in Ethiopia while the international card is used to make
international transactions.

 Benefits

 Make financial transactions, including withdrawal of money

without the help of a human clerk

 Accessible 24 hours a day and 7 days a week

 No need to carry cash to purchase goods or services. You can

transfer the sum of money needed from your account to supplier
account by using POS terminal

 No need to go to the bank every time you need to withdraw

money. You can access your account at any of the bank’s ATM
installed in various public places

 Safe from theft and lose of money

 Provides alternative services other than cash withdrawal and

purchase of goods, such as mobile top up, bill payment, funds
transfer, deposit, balance inquiry, etc

Eligibility

To enjoy reliable visa debit card services, you must

o be above 18 years old

o have a valid and renewed  ID card
o have an account in one of CBE’s branch. Those who are not
account holder can get the service through prepaid reliable visa
 o fill visa debit application form properly by approaching the
nearby branch
 CBE's Mobile Banking services enable you to access your bank
accounts, make
 fund transfers,payments and balance inquiries as well as get instant
notifications
 on all your accounts linked with MB services-using the SMS, XHTML and
DOWNLOADABLE
 application channels.

CBE mobile Banking Application can be downloaded here

 For Android Smart Phones
For Windows Smart Phones

Message of the President

Message of the President

It gives me a great pleasure to welcome you all to our website which I believe will help you in
accessing the most vital information with regards to the activities of the Commercial Bank of
Ethiopia (CBE).

The last five years (2010/11-2014/15) has been a period of unprecedented success as we have
made a real difference in the overall performance of the Bank.  Indeed,the period epitomizes a
breakthrough in the accomplishment of both financial and non-financial targets of the Bank.

The success is primarily attributable to three factors. First and foremost, we have worked with
millions of customers who placed their trust and confidence in us for which I am very grateful.
Secondly, the bank developed a well-thought out five-year strategic plan (2010/11-2014/15).
Thirdly, the management and the staff were very inspired and determined to execute it.

The strategic plan, which was drawn in line with the nation’s Growth and Transformation Plan
(GTP), placed a major emphasis on two strategic themes: business growth and service
excellence.
Consequently, the Bank’s deposit which stood at Birr 56 billion five years ago shot up to Birr
241.7 billion by June 30, 2015, which enabled it to successfully finance various investment
projects and related activities.

The annual profit saw a fourfold growth compared with the baseline figure, largely driven by
enhanced interest income from loans and advances. The total asset of the Bank rose to Birr303
billion, which is close to fourfold compared with the base year.

The other area where the Bank posted a milestone achievement is accessibility.Over the past five
years,the Bank undertook an aggressive branch opening initiative and opened 150 branches
annually on average to bring the total branch network to 965 by June 2015. The expansion of
branches significantly helped to increase the number of deposit accounts which surged to 10.6
million by June 30, 2015. This rapid expansion including to the remotest rural towns helped the
general public to easily access banking services.

New products, such as Women’s Saving Account, Teen and Youth Saving Account as well as
Interest-free Banking services were introduced as part of the financial inclusion drive. 

While continuing to introduce new banking technologies and working to offer more convenience
to our customers, the Bank managed to implement core banking solutions.As a result, over
850branches and various head office organs were networked. ATM, POS, mobile banking and
internet banking services have also been made widely available to the public, particularly in
Addis Ababa areas and major regional cities.

The human resource development also took center stage during the last five-year period. A
comprehensive human resource strategy was developed and implemented to equip the
management and staff with modern banking acumen.

Encouraged by the outcome of the previous strategic plan, the CBE has now embarked on a new
strategic plan (2015/16-2019/20) which is believed to take us further towards realizing our vision
of a “world class commercial bank by 2025”. Business growth and operational excellence remain
the prime focus of the strategic plan. I am thus confident that with the support of our customers,
the new strategic plan will definitely help to build on the achievements registered over the past
five years.

Bekalu Zeleke

President, Commercial Bank of Ethiopia