Ethiopiaâ€™s financial services industry is one of the least developed in the region. They arernconfined in small area and compete over the same customers with limited services. Survey showsrnthat only 43.5 % of urban and 53.6 % of Addis Ababa population had bank accounts. Thernpurpose of this study is to determine the effect of Promotion mix strategies on the profitability ofrnCommercial Bank of Ethiopia. A quantitative and qualitative research approach was applied torncollect data from employees and customers in the CBE. The target population of the study wasrnCBE employees and customers who are found in Addis Ababa. Systematic Simple randomrnsampling technique was employed and sample sizes of 378 employees and 384 customers werernselected. To accomplish this, a questionnaire survey was conducted by taking the most importantrnpromotion mix elements that were identified by several researchers from literature. For the sakernof achieving the objectives of this study, questionnaires were analyzed using descriptive andrninferential analyses with the help of SPSS version 20 statistical software program. Pearsonrncorrelation and multiple linear regression analysis were done to test the relationship betweenrnpromotion mix elements and profit. The study reveals that all promotion mix elements such asrnadvertising, sales promotion. Personal selling, public relations and publicity, and directrnmarketing have significantly and positively effects on CBE profitability. But according to thernemployeesâ€™ response direct marketing has no effect on profitability of CBE. The result confirmsrnthe hypothesized relationships in the research model. Therefore managers and policy makers inrnthe bank should give outstanding attention to profound promotion strategies and practices.