January 24, 2025

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Commercial Bank CBE Ethiopia

Commercial Bank CBE Ethiopia Fails to Recover 217,000 Birr

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The Commercial Bank CBE Ethiopia has announced that it could not recover 217,000 birr out of around 2.4 billion birrs lost during a technical glitch.

CBE is celebrating Cyber ​​Security Day for the first time. On the occasion of Cyber ​​Security Day, the CBE announced that it managed to recover more than 98% of the money lost during a system failure which happened in March this year.

Abe Sano, CBE President, attended the ceremony. He said that only 217,000 birr could not be recovered. “The cyber world is scary,” the President said, adding that it requires everyone’s cooperation. “The problem that happened last year (Ethiopian Calendar) was that the perpetrators were quickly identified. If the problem came from outside and we couldn’t control it, the damage would have been huge,” he said.

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