The Commercial Bank of Ethiopia has reported that over 2.8 trillion birr in payments have been processed through digital channels within the first six months of the current budget year.
Digital banking allows customers to conduct financial transactions via mobile phone and card without handling physical cash by visiting a bank branch.
In an interview with Ethiopia News Agency, Mr. Blen Hailemichael, Director of Merchant and Agent Banking Management at the Commercial Bank of Ethiopia’s Digital Banking Division, discussed the digital payment activity.
The bank currently has over 12 million ATM card users, over 9 million mobile banking customers, and over 20 million CBE Birr account holders, he stated. He added that the number of customers adopting digital alternatives continues to show significant growth each year.
Over 494 million transactions amounting to 2.8 trillion birr were conducted through digital channels in the first six months, he noted.
Compared to the same period last budget year, this represents a 35% increase in transaction volume and an 118% increase in monetary value, he explained.
The director also indicated that the Commercial Bank of Ethiopia is preparing to launch new digital services soon to further serve its customers. (EBC)
