Ethiopia's largest bank to open branches in Sudan.By Tesfa-alem tekle August 20, 2008 (ADDIS ABABA Addis Ababa (ăd`ĭs ăb`əbə) [Amharic,=new flower], city (1994 pop. 2,112,737), capital of Ethiopia. It is situated at c.8,000 ft (2,440 m) on a well-watered plateau surrounded by hills and mountains. ) -- The state owned commercial bank of Ethiopia The Commercial Bank of Ethiopia is the largest bank in Ethiopia, accounting for perhaps somewhere between 70% and 90% of the commercial banking market. The bank has 191 branches scattered over the main cities and towns including 45 branches in Addis Ababa. (CBE CBE Commander of the Order of the British Empire (a Brit. title) CBE n abbr (= Companion of (the Order of) the British Empire) → título de nobleza CBE n abbr (= ) is considering of opening branch offices in neighboring Sudan and Somaliland where bilateral trade relation is thriving in a higher rate. "CBE wants to open branches offices in southern Sudan Southern Sudan is a region of Sudan, comprising ten of that country's provinces. The Sudanese government agreed to give autonomy to the region in the Comprehensive Peace Agreement[1] and Somaliland capital towns of Juba and Hargessa" Ayele Chernet, public relation within the bank told reporters. The Sudan, Somalia and Somaliland are the top three African nations that import Ethiopian products on substantial amount. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the official CBE wants its share from the growing market along the border towns of Somaliland and also in Juba where oil companies are vying with each other for hydro carbon resources. Business transaction in Juba is growing with new oil discoveries and the mushrooming exploration projects booming. Currently a number Ethiopians in search of better jobs are migrating to Sudan, a country where relatively a fast economic growth is registering. The 66 year old Commercial Bank of Ethiopia is the largest bank in Ethiopia that has about Birr birr 1 n. 1. A whirring sound. 2. Strong forward momentum; driving force. intr.v. birred, birr·ing, birrs To make a whirring sound. 49 billion in assets, accounting for perhaps somewhere between 70% and 90% of the commercial banking market. The bank has some 8000 employees who staff the headquarters and 205 branches positioned in the main cities and regional towns, including 45 branches in Addis Ababa. 1958 the State Bank of Ethiopia established a branch in Sudan that the Sudanese government nationalized in 1970. (ST) Copyright 2003-2008 SudanTribune - All rights reserved. Provided by Syndigate.info an Albawaba.com company |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion