By Andualem Sisay Gessesse – Djibouti – Commercial Bank of Ethiopia (CBE), which reopened its branch in Djibouti 18 months ago, is still struggling to make profit. CBE has not been able to compete with other banks in Djibouti because it has not been able to secure swift code, according to Mathewos Kidane, Acting Customer Service Manager at CBE Djibouti branch, who spoke to visiting journalists from Ethiopia. “When we re-opened the Djibouti branch 18 months ago it wasn’t anticipated that getting swift code will take that long time. CBE Djibouti Branch has 17 staff and rented a house in a business district in Djibouti. Among the major banks operating in Djibouti include, CAC Bank, Bank of Africa and Salaam Bank.

Source: News Business Ethiopia December 07, 2018 18:33 UTC