Oromia Bank Boosts Profit, Assets

Dec 4 , 2022

Oromia Bank announced that it had earned 279.4 million dollars in foreign currency through international banking operations, a 55pc increase compared to last year. The Bank registered a net profit of 1.2 billion Br from the operations in the same period. Its earnings per share were 307 Br, a 13.7pc increase compared to the last year. The Bank's President, Teferi Mekonen, hailed the operation period as "our golden year." The Bank has increased its branches to 400, opening 84 additional branches in the fiscal year. The Bank was established 14 years ago, with a paid-up capital of 91.2 million Br. Chairperson of the Board, Gemechu Waqtola (PhD), said that Oromia Bank has increased its assets by 24.8pc despite the pandemic and the war between Russia and Ukraine affecting the domestic economy.


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