ADDIS ABABA (CBE)–The Public Financial Enterprises Agency has appointed Bacha Gina as the new president of the Commercial Bank of Ethiopia, replacing Bekalu Zeleke who had led the bank for close to ten years as a president.
Before joining CBE, Bacha Gina served as Vice President and Assistant Vice President of the Cooperative Bank of Oromia and Awash International Bank, respectively.
Bacha is expected to sustain and augment the impressive achievements of CBE registered in the past ten years.
CBE has raised its total deposit from 37 billion birr ten years ago to over 436 billion birr while the total asset reached over half a trillion birr from around 50 billion birr ten years back. CBE is now the most accessible bank in the country (having a total of 1277 branches nationwide, as of June 2018); as its branch network and e-payment facilities reach the public much better than the other banks combined.
After 75 years in the industry, CBE is still a pioneering bank in introducing technology-based bank products and services; and has continued to be the number one financial provider for major development projects in the country.
Bekalu has been named Vice Governor of the National Bank of Ethiopia.
In related news to the bank, CBE named two of its branches after former presidents of the bank. Accordingly, a new branch situated around Ayer Tena was named after Alemu Abera, President of the bank, 1980–1992. Similarly, the newly opened branch around Tewdros Square was named after Tilahun Abay, President of the bank, 1992–2002.
CBE’s 75th Anniversary Coordination Office Manager Ato Ephrem Mekuria said, “the purpose of the naming is to give due recognition to the endeavors of the presidents and maintain the bank’s fruitfulness and effectiveness.”
At a ceremony held at Zagwe Hall on June 19, 2018, the two former presidents expressed their gratitude for the recognition they were given. Such endeavors need to be appreciated and taken as model by other banks, they added. The branches named after the presidents were officially inaugurated that same day. At an award-giving ceremony held later winners of the bank’s 75th Anniversary Literary and Art Competition were given prizes. The top three winners of the national level contest poetry, short story and art received 75,000 birr, 50,000 birr, and 30,000 birr for each category. The first three winners in each of the mentioned categories from among CBE employees were also awarded birr 30,000 birr, 25,000 birr, and 20,000 birr, respectively.
A commemorative postage stamp on the bank’s 75th anniversary was also unveiled during the occasion.
Source: CBE