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Cooperative Bank of Oromia, established in 2004, is a leading financial institution in Ethiopia with over 750 branches and more than 13 million customers. The bank aims to enhance financial inclusion through a partnership with Mastercard and has reported significant growth in assets and deposits for the fiscal year 2023/24. Coopbank is also committed to corporate social responsibility, focusing on community development initiatives in education, healthcare, and sustainability.

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Mubarek Asefa
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14 views

Coop__2023

Cooperative Bank of Oromia, established in 2004, is a leading financial institution in Ethiopia with over 750 branches and more than 13 million customers. The bank aims to enhance financial inclusion through a partnership with Mastercard and has reported significant growth in assets and deposits for the fiscal year 2023/24. Coopbank is also committed to corporate social responsibility, focusing on community development initiatives in education, healthcare, and sustainability.

Uploaded by

Mubarek Asefa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Cooperative Bank of Oromia - Company Background (2024)

Introduction

Cooperative Bank of Oromia (Coopbank) is a prominent financial institution in Ethiopia, dedicated to

empowering

communities and transforming lives through innovative banking solutions. Established on October

29, 2004,

the bank has its headquarters in Addis Ababa and operates over 750 branches nationwide. As of

the 2023/24

fiscal year, Coopbank serves more than 13 million customers and employs approximately 8,100

individuals.

Mission and Vision

Coopbank's mission is to provide full-fledged and customer-responsive banking services to

cooperatives

and other entities, with an emphasis on agricultural and rural development. The bank envisions

becoming

the leading private bank in Ethiopia by the year 2025.

Services Offered

The bank offers a comprehensive range of services, including:

- Retail Banking

- Cooperative Banking

- Institutional Banking

- Diaspora Banking

- Interest-Free Banking
These services are designed to meet diverse customer needs, helping clients bank smarter and live

better.

2024 Milestones

In May 2024, Coopbank entered into a five-year strategic partnership with Mastercard to enhance

digital and

financial inclusion in Ethiopia. This collaboration aims to introduce innovative payment solutions,

expanding

access to financial services across the country.

Financial Performance (2023/24)

According to the bank's annual report for the fiscal year 2023/24, Coopbank achieved significant

growth:

- Total Assets: Increased by 22.4% to ETB 140.3 billion.

- Total Capital: Grew by 12.5% to ETB 9.5 billion.

- Total Deposits: Rose by 23.6% to ETB 108.5 billion.

- Total Loans and Advances: Expanded by 20.3% to ETB 81.2 billion.

These figures underscore the bank's robust financial health and its commitment to supporting

economic

development in Ethiopia.

Corporate Social Responsibility

Coopbank is deeply committed to corporate social responsibility, engaging in various community

development

initiatives. The bank focuses on projects that promote education, healthcare, environmental

sustainability,

and financial literacy, aiming to make a positive impact on society.


Branches and Network

With a vast network of over 750 branches, Coopbank ensures accessibility to its services across

Ethiopia.

The bank's extensive reach enables it to serve a diverse customer base, including urban and rural

communities.

For more detailed information, please refer to the Cooperative Bank of Oromia's Annual Report for

2023/24.

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