Month: July 2022
2021/22 Budget Year: Another Year of Success!
Cooperative Bank of Oromia’s registers gross profit of ETB 3.95 billion.
Cooperative of Bank of Oromia has made tremendous effort in all aspects to realize its vision of becoming the leading private bank in Ethiopia by 2025.
At the grassroots level, the bank, which aims to achieve social economic growth through banking services, reaches out to the marginalized and underserved communities and promotes a culture of saving based on small and large deposits from the wider community.
The 2021/22 fiscal year has yet been another fruitful year for the bank. During the fiscal year the bank’s number of customers reached 9 million, an astonishing number that puts the bank in a leading position from the private banks. Following the agressive move of the bank, the total asset of the bank reached ETB 96.77 billion showing a 36.06% increase from the previous year’s position. The bank earned USD 437.95 million in foreign exchange during the fiscal year. It has also expanded its reach by adding 124 new branches through out the country totaling the number to 593. The bank has an outstandign loan of ETB 84.26 billion and its total asset grew to ETB 114.36 billion. The total capital of the bank as well surpassed ETB 12.28 billion with a paid-up capital ETB 7.73 billion exhibiting that the bank is on a better footing than ever. Moreover, the bank registered an astounding gross profit before depreciation and provision of ETB 3.95 billion during the budget year.
Cooperative Bank of Oromia is agressively working not only on financial aspects but also on non-financial ones, enabling the implementation of modern banking technology and provision of competitive human capital to realize its long-sought vision.
