Omo Bank has announced that it had reached a capital of one billion birr, enabling it to provide comprehensive banking services.

The bank's president, Abraham Alaro, revealed this achievement during the second regular and emergency meeting of shareholders in Hawassa. Previously a microfinance service provider, OMO Bank has expanded its capacity to serve society with low economic potential, benefiting various sections of the former southern ethnic groups and peoples' region over the past 25 years.

The bank, reorganized and recognized by the National Bank of Ethiopia, reported earnings of Birr 1.1 billion and a profit of Birr 262 million in the fiscal year 2015. With 6.5 million customers, 250 branches, and six thousand employees, the bank aims to enhance efficiency and completeness in its services, with the headquarters now located in Addis Ababa and the board consisting of 11 members.

Source (including image): Ethiopian News Agency