Coopbank Raises Capital to Birr 21 Billion at Its 21st Annual and 12th Extraordinary General Assembly

Coopbank held its 21st Annual General Assembly alongside its 12th Extraordinary General Assembly at Aba Gada Hall in Adama Town. During the meeting, Ms. Meskerem Debebe, Chairperson of the Board of Directors, presented the Bank’s 2024/25 financial and non-financial performance.

As reported, the Bank achieved strong growth during the fiscal year. Total deposits increased by ETB 58.04 billion, reaching ETB 175.2 billion as of September 30, 2025. Total assets rose to ETB 197.4 billion, and profit before tax stood at ETB 2 billion, reflecting the Bank’s continued financial strength.

The non-financial report highlighted key initiatives, including expanded financial inclusion efforts, the impactful progress of the Michu uncollateralized digital lending service for youth and women in MSMEs, increased access to finance for farmers, and continued investments in fixed assets and innovative technologies. These achievements were positively recognized by attendees, with discussions emphasizing the need to build on this progress in the coming year.

In the Extraordinary General Assembly, shareholders approved raising Coopbank’s paid-up capital to ETB 21 billion within one year, in alignment with National Bank of Ethiopia requirements and to further strengthen the Bank’s competitiveness.

The successful assembly reinforces Coopbank’s ongoing commitment to growth, innovation, and community empowerment across Ethiopia.

by web admin