The objective of this study was to examine the determinants of CBBE in banking sectors, particularly in private banks in Bahir-Dar. The research used an explanatory and descriptive research design and questionnaires administered to gather research data. Samples of 385 bank consumers from the four private banks in Bahir-Dar, which selected conveniently contacted. Out of the 385 questionnaires distributed, 353 gives deemed valid. The scale constructed to measure consumer-based brand equity included brand awareness and brand image captured through Product Attributes, Service Attributes, and Symbolic Attributes. The findings indicate that image related attributes particularly; Service Attributes and Symbolic Attributes proved to be very essential and are found to be strong predictors of brand equity of banking sectors particularly in the case of private banks in Bahir-Dar. On the contrary, Brand awareness attributes had no significant impact on ratings of brand equity. This study contributes to the scant literature testing the applicability of consumer-based brand equity in the banking sector specifically in Ethiopia. Studies like this can help practitioners analyze the value of their brands as well as their competitors’, develop their marketing strategies and marketing communications plans, and in building and managing their brands more effectively.