Cooperative Bank of Oromia has reported that it has earned a gross profit of 767 million birr. The net profit after tax has reached 657 million birr, which is 134 million birr higher than the previous year.
Cooperative Bank of Oromia has 5.3 million account holders, which is one largest number of depositors from the 16 private banks in Ethiopia. Only the State Bank, Commercial Bank of Ethiopia (CBE) has the largest number of account holders, which amounts 25 million.
The increase in depositors has resulted in a 40% increase of total deposits, which has now reached 36.17 billion.
The Bank managed to collect 310.4 million USD from international banking while total revenue of the bank increased by 1.2 billion and reached 3.7 billion birr. This figure is the largest revenue the bank has attained in it’s years of operation.
Total number of branches has reached 314 while the bank’s employees have reached 4,369.