Jul 3 , 2021
The Cooperative Bank of Oromia (CBO) is wrapping up an impressive year, collecting over 27 billion Br in deposits since July 2020, a 60pc increase from its previous performance. Its total deposits mobilised have reached almost 73 billion Br. The Bank, which has over 14,000 shareholders, is now just 350 million Br shy of the five billion Birr minimum threshold for paid-up capital imposed by the central bank a few months ago. In addition, the Bank has garnered 1.4 million customers this year, bringing the total to 7.7 million accounts holders at the 469 branches it operates in the country, 49 of which were opened this year. Over two million customers have also been registered on its E-Birr digital payment platform. The Bank's outstanding loans have exhibited an increase of 64pc from 21 billion Br last year to 56 billion Br now. "These are carried out in various channels outside of the broadcasting industry," Bereket said.
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