The Commercial Bank of Ethiopia (CBE) was established in 1942, evolving from the State Bank of Ethiopia. It was legally constituted as a share company in 1963 and merged with the privately owned Addis Ababa Bank in 1974. Over the years, CBE has played a significant role in the country's development. As of now, the bank boasts over 40 million account holders across more than 1,940 branches. Additionally, CBE has more than 6.6 million mobile banking users, over 8.3 million active ATM cardholders, and 17 million CBE Birr users.