Oromia International Bank
| Industry | Finance |
|---|---|
| Founded | September 18, 2008 |
| Headquarters | Addis Ababa |
Key people |
Ato Abie Sano, President Ato Worku Lemma, Vice President, Corporate Support Services Ato Mergia Deriba, Vice President Operations and Relationship Management |
| Products | Financial services |
| Website |
www |
Oromia International Bank (OIB) is a private bank based in Addis Ababa, Ethiopia. It was established on September 18, 2008.[1]
Overview
The Oromia International Bank began operations on October 25, 2008. It had a starting capital of 110 million birr (Br), surpassing the minimum capital requirement by 35 million Br. With its headquarters located inside Dembel City Centre, on Africa Avenue (Bole Road), this Bank is chiefly promoted by Yemiru Nega, developer of Dembel and majority shareholder and general manager of Yencomad Construction.[2]
Established with the commercial banking business objectives, OIB is undertaking a universal commercial banking service such as deposit mobilization, lending of money, remittance service, and international banking services and interest free banking. Preparations are already underway to start Internet and mobile banking services. The bank currently has 86 branches and purchased a 13 storey building in Addis Ababa at Bole area near the Getu Commercial Center. It has also exceeded the new directive passed by NBE requiring a minimum capital of 500 million birr.