Commercial Bank of Ethiopia and the Development Bank of Ethiopia were included in the list of the 50 largest banks in Africa
According to the list published by the famous ‘African Business’ magazine and according to the media, Commercial Bank of Ethiopia has improved two places from last year and is ranked 28th, while Development Bank of Ethiopia is ranked 44th.
Among private Ethiopian banks, Awash Bank is 68th, Dashen Bank is 87th and Abyssinia Bank is 89th.
Meanwhile, the level of Ethiopian banks in Africa did not take into account the recent macroeconomic changes and the associated weakening of the Birr, and if this change was taken into account, the level of our banks would be significantly lower, according to experts in the field.
It is being suggested that especially private banks will not reach the level of 100 because the Birr has become very weak due to the new foreign exchange rate.
On the other hand, Commercial Bank of Ethiopia has received capital support of 700 million dollars from the government, so it is estimated that the position may not leave much.
Source: meseretmedia
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