Oromia Bank Scores 1.13 Billion Birr Annual Profit

ADDIS ABABA – Oromia Bank has reported 1.13 billion gross annual profit before tax in the past financial year that ended on July 7, 2021, showing a 6% percent increase.

During an annual ordinary shareholders meeting on Dec 25, the Board of Directors various indicators are showing that the Bank is “on the path of success”.

According to their directors, the Bank’s total asset has reached 41.7 billion Birr growing by 23% while the customer base, in terms of number of deposit accounts, grew by 45% and reached 2.49 million Birr.

The report also says deposit resource mobilization performance showed a growth of 24% and reached 34.35 billion Birr.

Performance on provision of loans, advances and financing including Interest-Free Banking financing resulted in a growth of 27% and reached 25.77 billion Birr.

“On the other hand, our Bank has developed its 3rd corporate and functional strategies which is believed will hugely help us to bring superior customer experience,” the Bank said in a statement.

“And our new brand also enables us to serve our customers with new spirit, new look and offer vibrant service,” it added.

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