Dear valued Stakeholders

I am honored to present the performance highlights and key accomplishments of Coopbank during the fiscal year 2022/23. This year was marked by multitude of challenges and significant achievements. Despite these challenges, we emerged stronger and more resilient by achieving modest growth in the fiscal year.
Coopbank’s Performance in Key Metrices
Deposits
During FY 2022/23, Coopbank’s total deposits grew by an impressive 20.13%, reaching a deposit position of ETB 116.25 billion as of June 30, 2023. Conventional deposits constituted the majority, representing 83.3% (ETB 96.83 billion), while the remaining 16.7% (ETB 19.42 billion) went to interest-free banking deposits.

Loans and Advances
As to the loans and advances, Coopbank’s portfolio grew, reaching ETB 101.91 billion by June 30, 2023. We disbursed fresh loans amounting to ETB 31 billion to various sectors of the economy during the fiscal year.
Customer Base Expansion
Broadening our customer base is a key factor for the sustainable growth of our bank. During FY 2022/23, we successfully recruited an additional 2.24 million deposit accounts, bringing our total deposit accounts to 11.2 million as of June 30, 2023.
Profitability
Our bank earned a gross profit of ETB 4.36 billion before impairment loss and tax during FY 2022/23. The profit before tax and after impairment loss for the fiscal year amounted to ETB 3.39 billion.
Capital
During FY 2022/23, Coopbank successfully mobilized additional share capital of birr 2.28 billion, bringing the total paid-up capital of the bank to ETB 10.02 billion as of June 30, 2023. Over the last five years, Coopbank’s paid-up capital has grown on average by 45%, and we remain committed to continued e orts and strategic approaches to reach the required paid-up capital commensurate with the asset growth of the bank.
Customer Convenience
Coopbank recognizes the evolving customer expectations and shifting sentiments. We are committed to leading the digital transformation by leveraging digital technology and customer engagement innovatively. To foster the transformation of banking operations and services, Coopbank has established a signi cant number of touchpoints at branches and other outlets. As of June 30, 2023, we proudly operate 738 branches and a considerable number of digital outlets. This includes over 83,000 active Coopay-Ebirr merchants and 17,700 active Coopay-Ebirr agents throughout the country. The total number of active Coopay-ebirr mobile accounts reached over 4.8 million as of June 30, 2023. Coopbank’s customers conducted a substantial volume of transactions through these digital platforms, with digital transactions accounting for 63.1% of the total.
Technology and Innovation
The role of technology in shaping the future of banking cannot be overstated. Coopbank has embraced this fact and has been proactive in enhancing the customer experience and addressing emerging risks. Information system upgrades, including Database, Temenos Transact System, and Endpoint Security Solution Upgrades, have been carried out. We employ data analytics to gain a 360-degree view of the customer journey, allowing us to customize need-based nancial products and services. Coopbank’s agship digital platform, Michu, provides cutting-edge digital services to retail and MSMEs customers. We have expanded our digital lending services with the Michu Digital Lending app, now available in various Ethiopian languages. The bank has also ventured into digital payments for transport, water services, entertainment services, and fuel transactions.In line with this, the bank initiated several strategic projects to achieve long-term objectives. Fostering the Coopay Ebirr platform, including integration with 3rd party systems, ensuring Inter-operability, agent networking, enhancing transactions, and expanding our footprint in the country’s Digital Transformation.
Dx Valley
So as to proactively navigate the digital era, offer enhanced services and remain competitive in the industry, the bank has instituted the innovation hub dubbed “Dx Valley”. With the launch of several projects in our belt that are going to be launched in the very near future, Coopbank’s commitment in becoming at the forefront of digital innovation will be further enhanced.
Outlook for the Future
Looking ahead, to succeed in an ever changing operating environment, our focus will be on innovation, digital transformation, improved efficiency, and the capabilities of executing our strategies. The achievements of Coopbank in FY 2022/23 were the result of the dedication and hard work of our employees and, the strong support and direction of our board of directors, unwavering support of all our customers, NBE, partners and stakeholders. I extend my sincere gratitude to all for the boundless e orts throughout the year.
Thank you,

Deribie Asfaw

President