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Ethiopia’s bank introduces interest rate adjustments, service fee change

Commercial Bank of Ethiopia introduced increase and decrease of interest rates and service charges

Interest rates _ bank _ Ethiopia
Commercial Bank of Ethiopia President, Abe Sano

borkena
February 12, 2021 

State-owned bank, Commercial Bank of Ethiopia, on Friday announced changes to interest rates and services fees for international banking services. 

President of the Bank, Abe Sano, has a press statement to explain the introduced changes. 

The intention is to fix imbalances in spending and revenue, minimize financial pressure on the bank and make it similar to the rats in the market, it was said. Services delivered for free and/ or for low fee are adjusted, as reported by ENA. 

Interest rates will be increased by not more than one percent – exact figure not specified. It will be applicable on short, medium and long-term loans. 

In the realm of foreign trade, with the aim to incentivize the sector it is said that the bank introduced interest rate reduction for loans. A Government agency that is importing pharmaceuticals is also getting discounted rates of interest. 

Rates for importers in the oil industry are left untouched in order not to exacerbate prices hikes which will affect the public, as explained by Mr. Abe Sano. 

It was said that the bank was offering more than 73 percent of the services either with low rates or free.   

It is to be recalled that Commercial Bank of Ethiopia, which has thousands of branches across the country, introduced interest debt relief as business were affected by the Coronavirus situation.

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3 COMMENTS

  1. this man looks the private shopkeeper and accountant of Abiy?

    EThiopia is ruled now by the coalition government of Eritrean dictator and Abiy who work to destroy any party and individual who can cause a serious threat to its authority and survival as a dictator. Every dictator reacted violently to the perceived threat to its authority. If they have confidence and integrity they will not act like that because their actions will stand out against all propaganda and defametion made against them. Abusing journalist will not solve anything but it will give a huge volume to the aleady abundant crime committed by this PP and HIgdef and fuel the public anger both among ethiopians and foreigners . Amhara elites are very angry at any one any gouvernement who condemn the atrocities against Tigray , Oromo, Kimant and Agew. They are criticizing UN, UNHCR, EU, US since they fnd it a serious threat for their sovereignity as a the only dominant tribe i ethiopia and soccaled unity by gun and religion. yimegnushal lin kegebeya atawutuwat tebluwal; Amhara elites want to become refugees in abroad condemening every governmnet including Abiy himself and control every one at home. Many of them are living in a cage in US and wage war against their own people. You cannot have the best of both worlds:choose the best answer dear self-apponited amhara activits and politicians ጎንደሬዋ የኢሳይያስ አያት ይመኙሻልን ከገበያ ኣታዉጡዋት ዪሉ ነበር ነፍሳቸዉን ይማረዉ በሕይወት የሉም።የአማራ ልሂቃን ከጦር ሜዳ መዋጋት ሲያቅታቹህ ከከተማ ዉስጥ ሆናችሁ ቄሶችን ስትገሉ ስታስገድሉ ቤተክርስቲያን ስታፈርሱ ፥እናትና ልጆችዋን ስትደፍሩ በኤርትራዉያን ስታስደፍሩ ፫ ወራት አለፉ፥ወያኔ ፮፮፮ ነው፣ገለመለ ስትሉን ቀብለናችሁ ነበር ነገርግን ወያኔ ጠላቶቹን አስተምሮ ወደዉጭ ሀገር ሲልክ፥ለጠላቶቹ ትምህርት ቤት፥ሆስፒታል፥ድልድይ፥ሲሠራ እንጂ በቂም በቀል እንደናንተ ያደረገዉ ነገር የለም፥ማስረጃ አቅርቡ እስቲ እንስማዉ ፥እንየዉ፥የእናንተዉ የዉሸትታሪክ ለአለም አቀፍ የስደተኞች ድርጅት(UNHCR) አቅርቡት፡ምንትስ …. ለማያቁሽታጠኝይሉነበር ማለቴ በማያዉቁዋቹህ ነጮች ፊት የተለመደ የዉሸት ትርክታችሁን አሠሙ፥፥በአገር ዉሥጥ ስራቹህ ፍንትዉ ብሎ የተገለጠ ነዉ፥ regardless of the country issuing your travel document, many of you amhara elites obtain travel documents by the volition of TPLF authorities like the late Seyoum Mesfin. Now you became sponsors of war crimes and defenders of PP cadres as cyber militia. Your actions do reflect your genuine identity than your pretencious and treacherous words which in turn exposes your psycopathtic personality . You cannot have the best of both worlds : you cannot destroy our peace by creating ethnic based conflict at home and claim a refugee status in abroad. And Simultaneously insist to grab power in ethiopia and dehumanizing the rest of non-amhara tribe in the ill-concieved amharnized ethiopia by stripping off the God-given privilege of nations and nationalities , their language, privilege to choose their leaders both in secular and religious arena. We cannot think of one religion and one language in the modern day of Ethiopia; Look at european and other countries, there arecountries whose official and working language is not only one rather 2 or 3 in one country. For your surprise, these countries have no ethnic and ethnic minorities with distinct right from the other rather equal right before the law and the state leaders. In Amharanized ethiopia this is abnormal , because we accept amahara to be our superbeing and the only leader bothe in the church and secular organizations which is weird and against God-given human right. Regarding those eritreans who are now and again staggering to veil teh crime committed by their own brothers , fellow eritreans by naming them ሕግደፋዉያን . Please stop using the word ‘ሕግደፋዉያን’ all these unspeakable and unimaginable atrocities are committed by Eritreans and ethiopians ; The world donot call them ሕግደፋዉያን but eritreans . You could look at how H.E Joe Biden adress these thugs and demande the withdrawal of eritreans but he didnot say ሕግደፋዉያን or PJDF. Stop fooling yourself and deluding the ordinary people. We are losing family members and telling us ሕግደፋዉያን killed your family . Are you moking at all Tegarus in an attempt to evade revengful act from our side ? Who should be lafet to be avictim of your egoistic act of contolling Tigray and destroying our land while you remain protected by your treacherous words ?? You are doing the same act like Abiy . Abiy and his fans sent Religious leaders to Tigray to deceive Tegarus in the name of religion after they did what their revengful act for over 3 months in dark and communicatin balackout. Being Eritrean is the identity of both every eritrean , but we donot say ሕግደፋዉያን or ሕግደፋዊነት when we address their identity. It is a political view and standing. We call someone ባንዳ , traitor, defector,, ከኸዲOne who betrays one’s country, a cause, or a trust, especially one who commits treason without detaching his or her identity. Why do prefer to call these incarnated demons ሕግደፋዉያን rather than ኤርትራዉያን ?? You had a huge time to avoid this crime , but you chose to support and conceal the crime by denying the presence of eritrean Army in Tigray which is exposed to every country located in the four corners of this planet? አቱም ሀሾት እዩ ኤርትራዉያን ከምኡ አይንገብርን ጨዋታት ኢና ትብሉና ኔርኩም፥ንዚ ግብርኩም ክንቃወም እንከለና መሊስኩም ሕግደፋዉያን ኢልኩም ሽም ተዉፁኡልና hasadat leyabu chakanat

  2. In another news, the new Biden Administration just announced that it will double the number of refugees to come to the US. That is great news for those who really need rehabilitation in foreign lands. But I have legitimate concern. I am afraid now that many of those savages who committed massacre at Mai-Kadra will be able to use this opportunity to come here thumbing their noses at justice and right at our faces. Once they get here they will be able to disappear into the thin air living off the 30 billion plus US dollars pilfered from that nation’s coffers by their bosses during the long 27 years between 1991 and 2018. You just watch.

  3. It is expected of us that we have been keenly watching watch is going on in the old country. We should not also lose sight of what is going on right here where all call it home. Today the former President Trump was acquitted of all charges by the senate. It is very welcome news for those 74 million plus people who voted for him. It has also left the road open for him to do whatever he wants to his political life. He will now be like a wounded leopard. The next four years are going to be very interesting. He and his protégés have a huge mass that feels threatened and looking for a savior. Not scary but worth to closely watch. The pandemic will be over sooner or later within a year or two and it may not be a lingering issue to be politicized. If the economy goes sour in 2023 or during the months leading to 2024, there is a good chance Trump may even be re-elected. It he is not, another protégé could win the election. Phew!!! It is going to be a heck of a ride!!!!

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