Ethiopia's Cooperative Bank of Oromia S.C. has reported earning of 263.75 million Ethiopian birr Gross profit in the 2012/13 fiscal year.

At a meeting held on Saturday August 10, 2013 at Saro-Maria hotel, the executives of the Bank stated that this year’s performance has shown an increase  of 88.70 percent compared to  the previous year’s performance, which was 139.8 million birr.

The Bank’s total capital has also reached 697.50 million birr showing a 67.18 percent growth compared to the previous year, according to the banks performance report. The Bank said its  paid up share capital currently stands at 442.34 million birr showing an increase of 57.62 percent over the previous year.

The Bank’s assets now stands at 6.66 billion birr, sowing a significant growth of 81.54 percent compared to the previous year.

CBO currently has 230,691 clients which puts its deposits at 4.47 billion birr, an increase of 59.61 percent from the previous year.

Cooperative Bank of Oromia S.C. was established in October 2004 with an authorized capital of 300 million birr and a paid up capital of 112 million birr. Currently CBO has 230,691 clients and 81 branches.

Source: Capital