Macroeconomic factors typically affect large segments of the population. And referred to as, an important fiscal, natural, or geopolitical event that has a broad impact on the economy of a region or a country. This study investigated the effects of different macroeconomic factors on banks’ asset protection, focusing on selected branches of commercial bank of Ethiopia within Bahirdar city. This study aims to explore how the selected macroeconomic factors like currency devaluation, technological changes, geopolitical turmoils, and economic fluctuations are impacting the asset protection endeavors of banks more specifically commercial bank of Ethiopia. The study utilized an explanatory research design, employing both quantitative and qualitative research approaches. Data was collected by using a combination of a survey questionnaire with simple random sampling, as well as semistructured interviews with key informants selected by purposive sampling. The quantitative data was analyzed using statistical techniques such as frequencies, means, standard deviations, correlation analysis, ANOVA, t-tests, and linear regression, implemented in the latest version of SPSS 26 software. The qualitative data was analyzed using a thematic descriptive approach that summarized key themes and included representative quotes to illustrate the main issues expressed by the key informants. Results from the regression analysis presents R square value of 0.541 which implies that 54.1% of the effectiveness of banks’ asset protection is predicted by the predicting variables mentioned in the model. And the findings from the survey questionnaire and the interview showcased that, currency devaluation, economic fluctuations, and geopolitical turmoils affect banks’ asset protection strategies negatively. Technological changes present both an opportunity and a threat to the banks’ asset protection endeavors. The study suggests banks strengthen their risk management practices, create a policy that can help them to easily adapt to technological changes, diversify their asset portfolios, foster collaboration and information sharing among essential stakeholders, industry peers, and regulatory agencies, and install a system in place which can enable them to do continual monitoring and evaluation. This way the study believes, banks can improve the safeguarding of their assets and reduce risks associated with macroeconomic factors.