Toronto – The African Union this week confirmed an attempt to fraudulently withdraw $6 million from its Commercial Bank of Ethiopia (CBE) account. It happened on April 15 at the CBE branch within the premises of the African Union Headquarters in Addis Ababa. 

Toronto – The National Bank of Ethiopia on Wednesday announced five revised regulatory directives to “strengthen the framework of the financial sector oversight.” 

Toronto – The Commercial Bank of Ethiopia on Thursday introduced an adjustment to service charges. This will be effective as of Ethiopia’s new fiscal year in late July this year. 

Toronto – The Ethiopian government is making claims that inflation in the country has dropped by nearly 10 percent within a year. The change is depicted as an outcome of targeted effort. 

Toronto – The National Bank of Ethiopia on Tuesday announced a new Monetary policy framework. The main objective of the policy is said to be “low and stable” inflation.

Toronto – In a revealing incident, a senior Ethiopian Defense Force Commander encountered early signs of a systemic breakdown at the Commercial Bank of Ethiopia ATM in North Ethiopia in December 2023, months before a significant issue emerged in March 2024.

Toronto – The National Bank of Ethiopia is deepening liberal market practices as part of the Macro-Economic Policy Reform which the Ethiopian government started to implement. 

Toronto – Development Bank of Ethiopia on  Friday disclosed  Yohannes Ayalew  has resigned as president of the Bank.  

Toronto – The Amhara Bank on Friday announced that the Board of Directors appointed Yohannes Ayalew  as CEO of the Bank. Yohannes resigned last week as president of Development Bank of Ethiopia for “personal” reasons. The Bank has 12 members of the Board…

Toronto – The Commercial Bank of Ethiopia and Visa, a credit card service corporation, on Friday reached an agreement on enhanced  collaboration. 

Toronto – Commercial Bank of Ethiopia on Saturday reported that it has made US$ 282,459,436.76 available for exchange for its clients since the introduction of a reform on foreign exchange regime in July of this year. 

Abyssinia and Tseday Bank impacted in a reported robbery in the Amhara region of Ethiopia Toronto – Abyssinia and Tseday Banks report that over 67 million birr was robbed by “Unidentified gunmen” in South Wollo near Geshen Amba branches. 

Toronto – Months after introducing a market-based foreign exchange regime in Ethiopia, the National Bank of Ethiopia on Tuesday has announced a new regulatory measure. 

Toronto – Two state owned banks in Ethiopia are exchanging  US dollars and other major currencies at significantly different rates. The bank that is paying higher to buy U.S. dollars is also selling at a higher rate. 

By Beatrice Pauline Otieno 

Toronto – The National Bank of Ethiopia (NBE) released its financial stability report on Saturday, focusing on the performance of banks and other financial sectors.

EIB Global Invests $75 million in Helios Fund V to Support Africa’s digitally focused businesses. Read more.

Commercial Bank of Ethiopia says the increase in interest rates is introduced to stay competitive in the sector   Toronto – Commercial Bank of Ethiopia is introducing  interest rate hikes up to six  percent. Interest rate changes are introduced for export…

By: Getahun Tsegaye Staff Writer

Toronto – Awash Bank, one of the major private banks in Ethiopia, on Saturday announced that it has supplied over 2200 clients with $498 million dollars in currency exchange between January 1st and March 31st this year.