April 16, 2024

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commercial bank of Ethiopia CBE

Deadline Issued by Ethiopian Bank CBE Expires

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The three day deadline issued by the Ethiopian Bank CBE expired on Wednesday. The three-day extended deadline was issued on Sunday. The bank on Sunday warned all the customers involved in illegal money transactions to return money by Wednesday or face criminal charges.

Today Ethiopian Bank CBE revealed the identity of customers involved in illegal transactions. The bank systems were hit by an unprecedented glitch last month. Commercial Bank of Ethiopia lost more than $14M in this glitch although it has recovered more than $12M so far.

Ethiopian Bank CBE today released the pictures of those customers who withdrew/transferred/ made transactions amounting from 95,000 to 121,000 Birr illegally and did not return the amount. Along with pictures, CBE released other identifiable data too about the account holders. According to the bank, more than 10,000 customers did not return money either fully or partially.

Will CBE renew the deadline or start criminal proceeding against bank customers? In the coming hours, the bank is expected to make key announcement in this regard.

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