The main purpose of this study was to evaluate the quality of financial reporting of commercial banks in Ethiopia, which includes both the private and public sectors (17 commercial banks). A mixed research approach was used, collecting quantitative data (through questionnaires) and qualitative data (through interviews) using a purposive sampling plan. A questionnaire with five Likert scales for the survey, primarily used for the quantitative part, and a semi-structured interview guide for the qualitative part were employed as data collection instruments. SPSS Version 20 for Windows was used for statistical analysis, and the results were presented in tables and pie charts. To examine the results, the study aimed to assess the quality of the financial reports of the target banks based on fundamental (relevance and accuracy) and enhancing (understandability, comparability, and timeliness) qualitative characteristics of accounting information.