Dear valued Shareholders,

In the midst of the current exigent times, our efforts were aimed at delivering maximum value to our esteemed stakeholders through designing fitting and appropriate strategic initiatives. In the fiscal year, we have demonstrated how we should continue to create sustainable growth and stakeholders’ value even in such periods. It was the year in which the bank has diligently focused on building its resiliency and strategically aligning itself in the dynamic business environment.

On the other hand, the fiscal year 2020/21 was the year in which the bank has started to implement its new growth strategy. The strategic focus here is to continue expanding its core resources base, expanding its business channels and enriching operating profits. This was driven by the vision of the bank that enabled a strong move across all organs of the bank and among our key stakeholders.

Our focus in this regard was to extensively leverage the available potential financial resources and market intelligence to create synergies and unique value propositions across our customer segments. Accordingly, the bank enhanced its focus on reviewing and implementing its strategy that enabled it improve its performances in different indicators.

On the other hand, the efforts made to be extensively engaged in digital banking operations led us to improve our digital move during the fiscal year. The drive to provide digital products and fast financial solutions to our customers led us to improve our digital operations that have resulted in the improvement of digital transactions during the fiscal year.

Accordingly, the bank has recorded a resilient financial performance in the year with its balance sheet size growing by 54.9 percent from ETB 52.49 billion in the last year to ETB 81.32 billion.

The bank is endeavoring to continuously be in the heart of the community and hence increased its retail branch network by 49 to 469 branches. Moreover, by recognizing the role of digital innovations to enrich customer offerings and improve the experience and harness the benefits of faster service, the bank laid important attention to the promotion of the digital ecosystem. Accordingly, the bank managed to recruit 17,092 additional merchants and 1.35 million subscribers to Coopay-Ebirr digital banking service.

Since the bank’s commitment to value creation extends beyond creating profits, in the fiscal year, we remained committed to assisting local communities during this challenging time. Aligning with the bank’s Corporate Social Responsibility commitments, we implemented community support activities that aim to reach out and uplift the local economy in different areas of the country.

Accordingly, the bank has supported different organizations working in the community. To name a few of our endeavors in this regard, our longstanding and continued support for Oromia Development Association (ODA) to help provide quality education and encourage highly performing students can be noted. Additionally, the bank has sponsored several books, literatures and supported several humanitarian organizations.

Finally, as we look ahead, I would like to restate our continued commitment to deliver the expectation of our shareholders, as well as our custom- ers, communities and many partners as we all play our own important part in our country’s economic development. By congratulating all our stake- holders for the success gained, it’s an opportune time to extend my apprecia- tion for our hard working employees, our customers and business partners, NBE, and all other stakeholders for your continued commitment.

Thank you,

DERIBIE ASFAW

President