The state-owned bank is rapidly expanding its balance sheet, underscoring both its dominance in the country’s financial system and the central role it plays in channelling liquidity, foreign currency and credit as Ethiopia pushes ahead with gradual banking sector reforms.
Commercial Bank of Ethiopia said its total deposits rose to more than $37 billion in the first nine months of the 2025/26 financial year, after mobilising an additional $8.7 billion, according to its latest performance review.
The figure is up from about $29 billion at the end of the previous financial year, highlighting continued balance sheet growth at Ethiopia’s largest lender as the country pursues financial sector reforms.
The state-owned bank also reported collecting $3.6 billion in foreign currency over the period, reflecting its central role in Ethiopia’s tightly managed foreign exchange system, where commercial banks channel export earnings, remittances and official inflows.
Speaking at a third-quarter performance review meeting on April 29, bank president Abe Sano said sustaining performance across financial and non-financial indicators would require continued operational focus in the remaining months of the fiscal year.
He cited lending discipline, cost control and customer acquisition as key priorities, alongside efforts to improve service delivery and maintain growth momentum.
The update comes as Ethiopia’s banking sector remains dominated by state institutions, with the Commercial Bank of Ethiopia holding the largest share of deposits and loans. The government has signalled plans to gradually open the sector to foreign investors, while urging domestic lenders to strengthen capital, expand digital services and improve efficiency.
The bank said it would step up efforts to meet full-year targets, aligning its operations with broader national economic priorities.
Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
Idris Elba (Sierra Leonean/Ghanaian heritage, British)
Most Famous Movie: Mandela: Long Walk to Freedom (2013)
Short Bio: While primarily known as a British actor, Idris Elba has strong West African roots. He is a highly acclaimed actor, producer, and musician, recognized for his versatility across film and television. His portrayal of Nelson Mandela in Mandela: Long Walk to Freedom earned him significant praise. He has also starred in popular productions like The Wire, Luther, and the Thor franchise.
Onion King
Fun South African Fact: Travel to Tsitsikamma, on the border of the Western Cape and Eastern Cape to visit the world’s highest commercial bungee jump! Those who are brave enough can take the 216-meter jump off the Bloukrans Bridge and soar through the air towards the Bloukrans River below. Definitely a must for thrill-seekers and adrenaline-junkies!
New Magoo
Fun South African Fact: Mandela’s house on Vilakazi Street is now a museum. The man who the street was named after, Dr BW Vilakazi, was a poet, novelist and intellectual. He helped develop the written form of both isiZulu and siSwati and helped put together the isiZulu dictionary.