DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
— - 2 Abe Sano - 1 Abe - 1 Abie Sano - 1 Sano - 1 Monday's - 1
Top related locs:
Ethiopia Commercial Bank of Ethiopia NAIROBI Kenya Ethiopia’s ADDIS ABABA Addis Ababa Ethiopia's
Top related orgs:
Commercial Bank of - 2 Commercial Bank of Ethiopia - 2 birr - 1 CNBC - 1 Service - 1 Business - 1

Search resuls for: "Commercial Bank of Ethiopia"


4 mentions found


☆ Ethiopian Bank Seeks to Recover Millions After a Technical Glitch Triggered Massive Withdrawals
  + stars: | 2024-03-19 | by ( Associated Press | March | At A.M. | ) www.usnews.com   time to read: +1 min
NAIROBI, Kenya (AP) — Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts. Long lines formed at cash machines across Ethiopia after the problem was discovered at the Commercial Bank of Ethiopia, local media reported. The bank has not said how much was withdrawn, but Abe told reporters that half a million transactions were made during the glitch. Photos You Should See View All 60 ImagesEstablished in 1963, the Commercial Bank of Ethiopia is the country’s largest bank with 40 million customers. The bank will not press charges against students who took out cash that did not belong to them, Abe said.
Persons: —, Abe Sano, Abe Organizations: Commercial Bank of, birr Locations: NAIROBI, Kenya, Ethiopia, Commercial Bank of Ethiopia, Ethiopia’s
☆ 'Glitch' at Ethiopia's biggest bank sees customers withdraw millions that isn't theirs
  + stars: | 2024-03-19 | by ( Elliot Smith | ) www.cnbc.com   time to read: +1 min
ADDIS ABABA, Ethiopia - Dec. 7, 2023: A branch of the Commercial Bank of Ethiopia in Addis Ababa. Ethiopia's largest bank is struggling to recoup millions of dollars after a glitch over the weekend allowed customers to withdraw unlimited funds, according to local media reports. More than $40 million was reportedly withdrawn from the state-owned Commercial Bank of Ethiopia or transferred to other banks, as customers discovered they could withdraw more than their total balance. Several universities have urged students to return cash that isn't theirs, and Sano reportedly told Monday's press conference that anybody who returns the money will not be criminally prosecuted. Ethiopia's central bank, which oversees its financial sector, said in a statement that the interruption was a result of system security checks and "not an incident that endangers the bank, its customers and the entire financial system," according to a Google translation.
Persons: Abie Sano, Sano, Monday's Organizations: Commercial Bank of, Commercial Bank of Ethiopia, CNBC Locations: ADDIS ABABA, Ethiopia, Commercial Bank of Ethiopia, Addis Ababa, Ethiopia's
☆ Customers asked to return $40 million after a bank glitch let them take out more money than they had, report says
  + stars: | 2024-03-19 | by ( Polly Thompson | ) www.businessinsider.com   time to read: +1 min
Customers of an Ethiopian bank found they could withdraw unlimited cash for a few hours last weekend. More than $40 million was withdrawn or transferred from CBE, local media reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA technical glitch let customers of an Ethiopian bank take out or transfer more money they had in their accounts.
Persons: — Organizations: Service, Commercial Bank of Ethiopia, Business
☆ Ethiopia to offer up to five banking licenses to foreign investors
  + stars: | 2023-05-03 | by ( Dawit Endeshaw | ) www.reuters.com   time to read: +1 min
ADDIS ABABA, May 3 (Reuters) - Ethiopia will issue up to five banking licenses to foreign investors in the next five years, part of plans to open up the financial services sector to foreign competition, a senior central bank official said on Wednesday. "We will give three to five licenses within five years," vice governor of the central bank Solomon Desta told reporters. Ethiopia's banking industry is dominated by state-owned Commercial Bank of Ethiopia, and the sector has 29 players, all of them locally owned. Desta said foreign investors would have different options to enter the industry, including forming joint ventures with domestic players, or establishing local subsidiaries. Foreign investors have long eyed sectors including banking, telecoms, transportation and aviation in Ethiopia, a country of more than 100 million people and one of the biggest economies in Sub-Saharan Africa.
0 next >>
Total: 4