The Commercial Bank of Eritrea is the only banking institution in Eritrea with full retail commercial banking services. It is a government-owned bank, with 17 branches throughout the country. [1] The Bank has arrangements with Citibank for international money transfer, as well as with Deutsche Bank.
When Eritrea achieved its independence in 1991, it took over the Eritrean branches of the Commercial Bank of Ethiopia. The Eritrean government formally chartered the Commercial Bank of Eritrea in 1994. [2]
Banking in the United States began in the late 1790s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services namely private banking, asset management, and deposit security.
In macroeconomics, the money supply is the total value of money available in an economy at a point of time. There are several ways to define "money", but standard measures usually include currency in circulation and demand deposits. The central bank of each country may use a definition of what constitutes money for its purposes.
The money market is a component of the economy which provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less.
ICICI Bank Limited is an Indian Development finance institution with its registered office in Vadodara, Gujarat and corporate office in Mumbai, Maharashtra. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries.
The National Bank of Ethiopia (NBE) is the central bank of Ethiopia. Its headquarters are in the capital city of Addis Ababa. Dr. Yinager Dessie is the current governor of the bank.
Industrial Development Bank of India was established in 1964 by an Act to provide credit and other financial facilities for the development of the fledgling Indian industry. It is a Development finance institution and now a subsidiary of Life Insurance Corporation. Many national institutes find their roots in IDBI like SIDBI, India Exim Bank, National Stock Exchange of India and National Securities Depository Limited.
The Commercial Bank of Ethiopia (CBE) is the largest commercial bank in Ethiopia. As of June 2015, it had about 303.6 billion Birr in assets and held approximately 67% of deposits and about 53% of all bank loans in the country. The bank has around 22,908 employees, who staff its headquarters and its over 1000+ branches positioned in the main cities and regional towns. The latter include 120 branches in the national capital Addis Ababa. With the opening of a branch in the Gechi in the Illubabor Zone of the Oromia Region, CBE's banking network has reached online 783 branches. The bank has reached 1284 branches as of 10 August 2018.
Banca per l’Africa Orientale (BAO) was an early attempt to establish modern banking in the Horn of Africa at a time when Eritrea and Italian Somaliland were Italian colonies. It closed in 1923.
Modern banking in Eritrea started with the arrival of the Italian colonizers. However, from 1974 on, the banking sector became a government monopoly. This situation continued after Eritrea achieved its independence. The Bank of Eritrea is the central bank of Eritrea.
The Central Bank of Somalia (CBS) is the monetary authority of Somalia. Somalia has struggled to reestablish a functioning state since the collapse of an authoritarian regime in 1991. The Transitional Federal Government, formed in 2004, was recognized as the central government of Somalia. Among other duties, it is in charge of ensuring financial stability, maintaining the internal and external value of the local currency, and promoting credit and exchange conditions that facilitate the balanced growth of the national economy. Within the scope of its powers, it also contributes to the financial and economic policies of the State.
The Central Bank of Syria (CBS) is the central bank of Syria. The bank was established in 1953 and started operations in 1956. Its headquarters are in Damascus, with 11 branches in the provincial capitals. The objective of the bank is "to foster the stability, integrity and efficiency of the nation’s financial and payment systems so as to promote optimal macro economic performance".
The Housing and Commerce Bank (HCB) is a bank in Asmara, Eritrea. The company has focused on financing various apartment complexes throughout Eritrea, most notably in Asmara and Massawa. It has also extended loans to local companies involved in the Wefri Warsay Yika'alo.
The Eritrean Investment and Development Bank (EIDB) was established on 28 October 1996. It did not effectively begin operations until 1998 from its single office in Asmara, Eritrea. The Bank was fully financed by the Ministry of Finance, and thus the financial institution is a property of the Eritrean government.
China's banking sector is the largest in the world by assets, with total assets of US40.1 Trillion in the first quarter of 2019 The "big four/five" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world as of 2018. The Bank of Communications is sometimes included. Other notable big and also the largest banks in the world are China Merchants Bank and Ping An Bank.
Westpac Banking Corporation, known simply as Westpac, is an Australian bank and financial services provider headquartered in Sydney, Australia. Established in 1817 as the Bank of New South Wales, it acquired the Commercial Bank of Australia in 1982 before being renamed shortly afterwards. It is one of Australia's "big four" banks and is Australia's first and oldest banking institution. Its name is a portmanteau of "Western" and "Pacific".
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Agricultural Development Bank of Ghana, commonly known as Agricultural Development Bank or ADB, is a government-owned development and commercial bank in Ghana. The bank is the first development finance institution established by the Government of Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator.
Pride Microfinance Limited (PMFL), is a microfinance deposit-taking institution (MDI) in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.
Banking in Albania, in its present form dating from 1992, consists of the nation's central bank - the Bank of Albania - and an expanding network of secondary banks. The Bank of Albania has the task of supervising the financial system, which currently contains 16 privately owned banks and many other financial institutions.
This article discusses banking in Sudan.
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