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The merger of Addis Ababa Bank with CBE made CBE the sole commercial bank in Ethiopia, with 128 branches and 3,633 employees. [6] In 1991, when Eritrea achieved its independence, the Eritrean government nationalized the branches there. In 1994 these branches formed the basis for what became the Commercial Bank of Eritrea. Also in 1994, the ...
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks .
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A universal bank is a type of bank which participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance. These are also called full-service financial firms, although there can also be full-service investment banks which provide wealth and ...
In 1970, the Government took full control of the bank and renamed it to Kenya Commercial Bank Group. [6] KCB Bank Kenya, as it is now known, was incorporated in 2015 as a result of the corporate restructure of Kenya Commercial Bank Group (KCB Group). Prior to 2015, KCB Group was both a licensed bank and a holding company for its subsidiaries. [6]
Commercial bank unveiled the online banking procedure to the customers in 2000. [17] In 2016, the bank launched Sri Lanka's first ever remittance card in order to ease the process of transferring funds from overseas to local beneficiaries. [18] The bank also launched Sri Lanka's first ever fully-automated cheque deposit machine in 2018. [19]
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