Oromia International Bank (OIB) posted a 71.9 percent rise in annual profit. The bank's profit for the year ended on June 30, 2013 totaled 77.5 million birr, Fortune reported.

The Bank’s return on average equities rose to 17.34 percent from 14.8 percent. The bank also managed to mobilize a total deposit of close to 3.1 billion birr, a 44 percent rise from earlier a year, Fortune reported citing the bank's annual audited report.

The Bank disbursed loans and advances of 1.6 billion birr. Its loan to deposit ratio has is up 52.4 percent compared to the previous year.

Total expenses incurred by the bank has reached 231.3 million birr, registering an increase of 40.9 percent.

OIB's liquid assets to total assets ratio has declined to 25.4 percent from 31.7 percent; liquid assets to total deposits ratio has fell to 32.5 percent from 42 percent and liquid assets to total liabilities ratio has also declined to 29 percent from 37 percent, according to Fortune.

Source: Fortune