View source for Commercial Bank of Eritrea

{{Short description|Banking institution in Eritrea}}
The '''Commercial Bank of Eritrea''' is the only banking institution in [[Eritrea]] with full retail [[commercial bank]]ing services. It is a government-owned bank, with 17 branches throughout the country.<ref>{{cite book| last=Rena | first=Ravinder | title=Financial Institutions in Eritrea |isbn= 0-9802534-8-9 | publisher=New Africa Press | year=2006}}</ref> The Bank has arrangements with [[Citibank]] for international money transfer, as well as with [[Deutsche Bank]].

==History==
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.<ref>{{cite web|url=https://mpra.ub.uni-muenchen.de/12423/1/MPRA_paper_12423.pdf |title=Historical Development of Money and Banking in Eritrea from the Axumite Kingdom to the Present, Department of Business and Economics, Eritrea Institute of Technology, Mai Nefhi, Asmara, The State of Eritrea, by Rena, Ravinder, 15 May 2006}}</ref>

==See also==
* [[Banking in Eritrea]]
* [[List of banks in Eritrea]]
{{Portal|Banks}}

==References==
<references/>

{{Economy of Eritrea}}

[[Category:Banks of Eritrea]]
[[Category:Companies of Eritrea]]
[[Category:Banks established in 1991]]
[[Category:1994 establishments in Eritrea]]


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