Oromia Bank Marks Lucrative Financial Year


Oromia Bank Marks Lucrative Financial Year

Oromia Bank exceeds its revenue target by four percent to 8.3 billion Br while registering two billion Birr gross profits. To the delight of shareholders gathered at Millenium Hall last week, the 63pc ascent in gross profits was accompanied by a 33pc hike in foreign currency earnings. It has reached 371 million dollars, marking a significant milestone for the 15-year-old bank, which was founded with 5,000 shareholders. Teferi Mekonen, president of the Bank, revealed that the total capital of the bank had reached 9.1 billion Br despite industry-wide challenges while its paid-up capital passed the regulatory minimum by 400 million Br. Teferi indicated the challenges of the contractionary monetary policy adopted amidst galloping inflation rates, even though the Bank managed to increase its loans and advances by 33pc to 42.6 billion Br Oromia's branch expansion at 103 new locations paid off as its total number of customers shot up by 34pc to 4.3 million while its mobilised deposits soared by 24pc to 54.3 billion Br. The Bank's total assets also grew by 27pc to 66 billion Br in the year while it maintained a non-performing loan ratio of 1.6pc.

[ssba-buttons]

Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...