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Since the late eighties, BPR has established itself as one of the attractive radical change management option for coping and adapting to the new competitive market environment and become popular both in the public and private organisations throughout the world. Cognizant of this fact, all Ethiopian public (government owned) institutions including the public financial institutions have embarked on large-scale change projects since 2004 in which Business process re-engineering(BPR) is a central element. This research examined whether implementation of Business Process Reengineering (BPR) projects have improved operational performance of the selected case public commercial banks in Ethiopia by collecting and analyzing both quantitative and qualitative comprehensive data set, using mixed research approach through questionnaires, interviews, observations and review of secondary sources of information. The operational performance measures utilized in this study are cost reduction, speed of service delivery, service quality, customer satisfaction as well as innovation.