Ethiopia
Oromia Bank was established in accordance with the pertinent laws, regulations and the 1960 Commercial Code of Ethiopia, by the Monetary and Banking Proclamation No. 83/1994 and by the Licensing and Supervision of Banking Proclamation No. 592/2008. Accordingly, on September 18, 2008, Oromia Bank obtained a banking business license. At the time of its establishment, OIB’s authorized capital was Birr 1.5 billion, whereas its subscribed capital was Birr 279.2 million, and its paid-up capital Birr 91.2 million. OIB began operation on October 25, 2008 by opening its first branch at Dembel City Center, named Bole Branch. Now, the Bank’s branches reached more than 300.
Oromia Bank has grown its paid up capital to Birr 3 Billion.
As an investor, it is essential to consider the impressive growth and expansion of Oromia Bank, not only in terms of its capital but also in its branch network. With a strong foothold in the Ethiopian banking sector, it presents an opportunity for strategic investment and potential collaboration in the dynamic and evolving financial landscape of the region.
