Commentaries | Jul 20,2024
Teferi Mekonnen (right), president of the re-named Oromia Bank, was joined by Yinager Dessie (PhD) (centre left), governor of the National Bank of Ethiopia (NBE), for the unveiling of a new brand logo. Adanech Abiebie and Shimelis Abdisa, mayor of Addis Abeba and president of Oromia Regional State, respectively, attended the event where one of the mid-sized private banks made public its new brand aesthetics on December 2, 2021, at the Sheraton Addis Hotel. Branches across the country also celebrated the new brand logo with their staff.
The new brand updates Oromia Bank’s characteristic green and white logo. It also sheds the “International” in its name and features a leaping horse superimposed over the globe - a melding of tradition and global outlook. It also has eight stripes representing the Geda, an indigenous socio-political system.
“Oromia Bank reaches upward in promise, outward in friendship, and forward in confidence,” reads its new slogan.
The Bank has been showing growth over the years and its industry peers. Its capital ballooned to three billion Birr last year from over a quarter of a billion Birr a decade ago, while its branch network expanded nearly 10-fold in the same period. Run for a decade by Abie Sano, now president of the state-owned Commercial Bank of Ethiopia (CBE), it netted 860.5 million Br over the past year but its injection of paid-up capital has come at a price for shareholders.
Bumps along the road will be hard to avoid, considering the political uncertainty and impacts on productivity. Oromia Bank hopes its new aesthetic will help it ride out the challenges more smoothly.
PUBLISHED ON
Dec 04,2021 [ VOL
22 , NO
1127]
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