With around 100,000 shareholders, there are 18 banks operating in Ethiopia. This makes the country an interactive, captivating space for foreign investment as there are options to choose from. Ethiopia's economy is seeing an unprecedented surge, as World Bank reported that the growth averaging 9.8% a year from 2008/09 to 2018/19.What is the role of commercial banks in Ethiopian?
The functions of commercial banks of Ethiopia is clearly stated at Art 2 sub Article 2 of the Banking Business Proclamation No 592/2000. And the function of the commercial banks are; I. Accepting Deposits: This is one of the primary function of commercial banks of Ethiopia. The commercial banks accept deposit of their customers.What is the Commercial Bank of Ethiopia?
Commercial Bank Of Ethiopia. A commercial bank (or business bank) is a type of financial institution and intermediary. It is a bank that provides transactional, savings, and money market accounts and that accepts time deposits.