Commercial Bank of Ethiopia introduced increase and decrease of interest rates and service chargesCommercial Bank of Ethiopia President, Abe SanoborkenaFebruary 12, 2021State-owned bank, Commercial Bank of Ethiopia, on Friday announced changes to interest rates and services fees for international banking services. President of the Bank, Abe Sano, has a press statement to explain the introduced changes. Interest rates will be increased by not more than one percent – exact figure not specified. In the realm of foreign trade, with the aim to incentivize the sector it is said that the bank introduced interest rate reduction for loans. It was said that the bank was offering more than 73 percent of the services either with low rates or free.

Source: Ethiopian News February 13, 2021 02:03 UTC