Oromia International Bank Share Company announced a net profit of 44.4 million birr. The bank’s profit exceeds that of the 
previous fiscal year by more than 25.1 million birr.
Oromia International Bank recorded 56.7 million birr profit before tax while its overall revenue reached 153.1 million birr.
The bank traces its success to a rewarding working environment, good customer service and a strong relationship between the board and management according to Abera Tola Chairman of the Board of Directors at OIB.
OIB’s total assets, for the fiscal year, showed a 75% increase to 1.96 billion birr. Deposits also increased to approximately 1.53 billion and the total amount loans and advances grew to 654.7 million birr. The bank kept its ratio of non performing loans to less than 1%.32% of the bank’s loan went to domestic trade and services while the export sector received 19%, transport communication 11%, construction and industry 9% and agriculture loans made up 2% of the total.
On the other hand the bank’s total expenses rose from 58.8 million birr to 96.5 million birr.
The bank announced plans to increase its paid up capital from 235.2 million to 700 million this fiscal year. OIB also plans to complete plans for the construction of a building housing its headquarters.
Oromia International Bank Share Company was established in September 2008 and currently has 36 branches with 12 Addis Ababa.
Source: Capital
