Banking sector is one of the most successful financial institutions in Ethiopia; however, there is virtually no formidable study on management control system about this sector. The increasing knowledge and understanding on the application of management control system, for the area in which this research was undertaken by benchmarking of the same research undertaken in other country, were taken as the major initiators of this study and were the rationale to the research.This study focused only the application of management control system in Ethiopia Commercial Banks even if there were different managerial issues in the banking industry at the head and branch offices as well. An institution based cross sectional descriptive study with analytic components was conducted in Ethiopian commercial banks which are functioned at Addis Ababa. The study employed both quantitative and qualitative study approaches. Study population for the survey was employees, officers and mangers of the banks. Besides, for the qualitative part, key informant interviews were conducted with mangers and officers of the banks. A questionnaire with five Likert scale were used for quantitative explanation.