Commercial Bank of Ethiopia says it has reopened its branches in Shire, Alamata and Korem after more than year of shutdown.

The Commercial Bank of Ethiopia said it has resumed financial services in some towns in the war-torn region of Tigray, after a shutdown lasting more than a year.

The announcement on Monday follows the signing of a peace deal between the federal government and Tigrayan rebels last month

The peace deal aimed at ending the brutal two-year conflict and humanitarian crisis in northern Ethiopia.

“Our bank was forced to suspend its banking services because of the instability in the northern part of the country,” the statement said.

“Conditions permitting we will continue with our efforts to expand our services and step by step restart services in all branches.”

Earlier this month, the country’s electricity operator announced that the capital of Tigray had been reconnected to the national power grid after more than a year of cuts caused by the conflict.

The war left Tigray devastated and lacking access to basic services including banking, electricity, fuel and communications for more than a year.