CBE’ s 303 mln. USD HQs maintains leading position

goEthio

ADDIS ABABA- The execution of the 53-storey headquarters, which consumes six years and 303.5 million USD, intensifies the Commercial Bank of Ethiopia’s (CBE) leading position in the country’s banking industry and will enable it to scale up the service, bank’s president said.

Ethiopia’s leading bank held a press conference yesterday in connection with its 80th founding anniversary and the inauguration of the new state-ofthe-art headquarters which is scheduled to take place on February 13, 2022.

During the occasion, CBE President Abie Sano stated that the 209.15 meters headquarters, which is the tallest building in East Africa and the third tallest in Africa, manifests the bank’s commitment to extend its pioneering role in Ethiopia’s financial sector.

The HQs also have a crucial importance to support CBE’s vision of enhancing competitiveness in Africa’s banking industry. Abie also noted that the new headquarters has three structures and while the main building has four basements, a ground floor and 48 floors, the other structures have G+6 floor and G+8 floors respectively and are equipped with most advanced technologies.

“Apart from acquiring the facility that meets the current status of the bank, the new HQs has also a paramount importance in making Addis Ababa a preferred tourist destination through incorporating artistic and recreational additives.

” The capability and expertise of the China State Construction Engineering Corporation (CSCEC), the main contractor of the project, and other global companies that have been taking part in the construction have brought an immense knowledge and technology transfer to Ethiopia, he elaborated.

The Addis Ababa University Institute of Technology consulted on the construction of the HQs which is expected to accommodate over 4,000 CBE employees.

 About the bank’s performance, the president highlighted that CBE extended its highest position and its total asset hit over 1 trillion Birr during the end of January 2022.

While the number of branches reached close to 1, 800 in the reported period, the customer base stretched to over 34 million. The bank has been hugely invested in opening branches across the country so as to satisfy the growing demand and maintain the business’ growth.

 Along with expansion of branches, CBE has been vigorously working to introduce and expand modern banking technologies and increasing efficiency in terms of service delivery and adjusting itself with the dynamics in the global industry, he remarked.

BY BILAL DERSO

The Ethiopian   9 February  2022

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