cbe

USD
57.4395
58.5883
,
GBP
71.4592
72.8884
,
EUR
62.7929
64.0488
,
CHF
61.7733
63.0088
,
SEK
4.9426
5.0415
,
NOK
4.8382
4.935
,
DKK
7.6177
7.7701
,
DJF
,
JPY
0.3318
0.3384
,
CAD
38.0352
38.7959
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
35.0416
35.7424
,
SDR
,
ZAR
,
CNY
7.1607
7.3039
,
KWD
179.4572
183.0463

awash

USD
57.4395
58.5883
,
EUR
62.7929
64.0488
,
GBP
71.4592
72.8884
,
CHF
61.7733
63.0088
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353
,
CAD
38.0352
38.7959

abyssinia

GBP
71.4592
72.8884
,
CHF
61.7733
63.0088
,
EUR
62.7929
64.0488
,
USD
57.4395
58.5883
,
CAD
38.0352
38.7959
,
AED
14.1523
14.4353
,
SAR
13.8591
14.1363
,
SEK
4.9426
5.0415
,
NOK
4.8382
4.935

abay

USD
55.8018
56.9178
,
EUR
60.0874
61.2891
,
GBP
70.1819
71.5855
,
CHF
63.3607
64.6279
,
AUD
36.5948
37.3267
,
AED
15.1953
15.4992
,
CNY
7.775
7.9305
,
DKK
8.059
8.2202
,
DJF
0.3125
0.3188
,
INR
0.6691
0.6825
,
JPY
0.3816
0.3892
,
KES
0.3636
0.3709
,
NOK
5.1001
5.2021
,
SAR
14.8773
15.1748
,
ZAR
2.919
2.9774
,
SEK
5.3255
5.432
,
SDR
74.1829
75.6666

zemen

CAD
42.1542
42.9973
,
EUR
62.5113
63.7615
,
GBP
74.3797
75.8673
,
SEK
5.4388
5.5476
,
USD
57.4183
58.5667

buna

nib

GBP
71.4592
72.8884
,
EUR
62.7929
64.0488
,
CHF
61.7733
63.0088
,
USD
57.4395
58.5883
,
CAD
38.0352
38.7959
,
AED
14.1523
14.4353
,
SAR
13.8591
14.1363

berhan

wegagen

USD
57.212
58.3562
,
GBP
69.2475
70.6325
,
EURO
61.1024
62.3244
,
CAD
37.593
38.3449
,
AUD
34.1883
34.8721
,
CHF
61.2047
62.4288
,
SEK
4.901
4.999
,
NOK
4.8468
4.9437
,
DKK
7.4131
7.5614
,
DJF
0.2862
0.3268
,
INR
0.6848
0.6985
,
KSH
0.4418
0.4506
,
JPY
0.329
0.3356
,
SAR
13.7998
14.0758
,
AED
14.0958
14.3777
,
ZAR
3.1723
3.2357
,
CNY
7.1366
7.2793
,
KWD
178.0416
181.6024

dgb

USD
57.3597
58.5069
,
GBP
72.864
74.3213
,
EUR
61.7248
62.9593
,
CHF
63.4931
64.763
,
CAD
41.9265
42.765

enat

USD
57.2406
58.3854
,
GBP
72.5868
74.0385
,
CHF
64.4819
65.7715
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.5162
15.8261
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

USD
57.4395
58.0139
,
GBP
74.8264
74.8552
,
CHF
64.6841
64.7133
,
SEK
5.4614
5.4629
,
NOK
5.3461
5.3473
,
DKK
8.4174
8.418
,
DJF
0.3217
0.3235
,
INR
0.6874
0.6878
,
KES
0.4393
0.4427
,
JPY
0.3667
0.3667
,
CAD
42.0279
42.031
,
AUD
38.72
38.7487
,
SAR
15.3139
15.3147
,
AED
15.6379
15.6387
,
EUR
62.7929
62.7986
,
XDR
76.1763
76.1763
,
ZAR
3.1622
3.1629
,
CNY
7.9124
7.9144
,
KWD
187.9133
188.0339

dashen

USD
57.4395
58.5883
,
GBP
71.4592
72.8884
,
CHF
61.7733
63.0088
,
SEK
4.9426
5.0415
,
NOK
4.8382
4.935
,
DKK
7.6177
7.7701
,
JPY
0.3318
0.3384
,
CAD
38.0352
38.7959
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353
,
EUR
62.7929
64.0488
,
DJF
,
INR
,
KES
,
AUD
35.0416
35.7424
,
ZAR
,
CNY
7.1607
7.3039
,
KWD
179.4572
183.0463
,
AED

oromia

USD
57.4344
58.5831
,
GBP
74.4809
75.9705
,
EUR
62.6035
63.8556
,
CHF
64.1367
65.4194
,
SAR
15.3126
15.6189
,
AED
15.6365
15.9492

lion

coop

USD
57.4344
58.5831
,
GBP
74.4809
75.9705
,
EUR
62.6035
63.8556
,
SAR
15.3126
15.6189
,
AED
15.6365
15.9492

gadaa

USD
57.3701
58.5175
,
GBP
69.8498
71.2468
,
EUR
61.9425
63.1814
,
AED
14.1352
14.4179
,
SAR
13.8402
14.117
,
CHF
60.8558
62.0729

hijra

EUR
48
45
,
USD
52.46
62.82
,
GBP
96.55
101.88
,
AED
59.75
63.41
,
KWD
30
25
,
SAR
23
20

amhara

tsehay

USD
57.4395
58.5883
,
GBP
71.4592
72.8884
,
EUR
62.7929
64.0488
,
CAD
38.0352
38.7959
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353

tsedey

USD
57.4395
58.5883
,
EUR
62.7929
64.0488
,
GBP
71.4592
72.8884
,
AED
14.1523
14.4353

Cooperative Bank of Oromia Review

Cooperative Bank of Oromia

Cooperative Bank of Oromia

7.6 Rating

15% Loan Interest

Diaspora Banking

Loans and Advances

Interest-Free Banking

Cooperatives Financing

Financing agricultural products

Written by: abenezer   Proof Read by:  abenezer

Pros and Cons

Detailed Diaspora Banking Services
Reliable and well-distributed E-Channels
Flexible Loans and Advances
more than 630 bruunches
Limited cooperative banking
Low investment opportunities

Cooperative Bank of Oromia Information

Contact Information

Diaspora Benefits

  • Optional Diaspora Deposit Accounts
  • Automobile Loan
  • Mortgage Loan
  • Working Capital Loan
  • Consumer Loan

Internet Banking

  • Can Check Balance
  • Can Transfer Money
  • View Account Statement
  • Can Control Progress
  • Can Pay Bills Online

Mobile Banking

  • Mobile Application
  • Balance Inquery
  • USSD Application
  • Mobile Top Up
  • Money Transfer

Loan Interest

  • Personal Automobile Loan 15
  • Diaspora Mortgage Loan 8.5
  • Corporate Loan 15
  • Investment Loan 15
  • Working Capital Loan 15

Saving Interest

  • Personal Saving 7%
  • Women Saving 8%
  • Youth Saving 8%
  • Teen Saving 8%
  • Education Saving 8%
  • Diaspora Fixed Time 14%

Apply for a loan here

Banks Ethiopia gives you the access and information you need to get car loan and house loan services in Ethiopia from the bank of your choice. If you are a non resident and/or a foreigner with origin of Ethiopia looking for these loan services, make sure to visit our diaspora mortgage loan and diaspora vehicle loan pages to acquire a more detailed information.

Cooperative Bank of Oromia Exchange Rate

The exchange rate for Cooperative Bank of Oromia can also be found at our exchange rates page, along with all other banks’ exchange rates in Ethiopia today.

code name buying buyingTrend selling sellingTrend
USD USD - US Dollar 57.4344 58.5831
GBP GBP - Pound Sterling 74.4809 75.9705
EUR EUR - Euro 62.6035 63.8556
SAR SAR - Saudi Riyal 15.3126 15.6189
AED AED - Arab Emirates Dirham 15.6365 15.9492

About Cooperative Bank of Oromia

Cooperative Bank of Oromia was formed on the 24th of October, 2004 with an authorized capital of Birr 300 million, and paid-up share capital of birr 112 million on March 2005, cooperative bank of Oromia branches has now reached more than 630 through out the country.

Services Provided by Cooperative Bank of Oromia

Cooperative Bank of Oromia Diaspora banking

You will need the following documents to have a Diaspora Account with Cooperative Bank of Oromia:

  • Residence and/or valid work permit.
  • Proof of Identification that is valid
  • Renewed passport for non-resident Ethiopians/renewed passport & a yellow card for foreigners of Ethiopian Origin
  • One recent passport size photograph
  • If applicable: the power of attorney
  • copy of ID, and
  • one recent passport size photograph of the agent(s)
  • Diaspora Deposit Account
  • Current account

Diaspora customers can have current accounts that have personalized checkbooks, with free transactions all across Cooperative Bank of Oromia’s branches as well as free withdrawals fee for foreign currency transactions. The account is available in local and foreign currency, with a debit card on request. Customers have the option of a joint signatory if they have a spouse, sibling, or parent in Ethiopia. There is a special personal banker who would help the customer and give him/her advisory services. CBO also provides easy access to credit facilities and manages third-party payments. Diaspora Customers of CBO have access to the bank’s various E-Channels.

Savings Account

Savings account for Diaspora with Cooperative Bank of Oromia has a better interest rate, and the deposited amount can be both in local or foreign currency. There is a special personal banker who would help the customer and give him/her advisory services. Deposits can be used as collateral if the customer decided to go with personal loans and advances with CBO.

Fixed Time Account

This is an interest-bearing account with a predefined maturity date, which a minimum of the maturity date is 3 months, and an initial deposit of USD 5,000. The minimum amount is USD 100 or what is equivalent in an eligible currency. The interest on the fixed time account for Diaspora is payable only if the minimum period is maintained with CBO. Interest income on such accounts is tax-free.

Ethiopian Citizen or Origin Living in Foreign Land (ECOLFL) Savings Account

This is a saving account of a normal interest rate that is opened for local currency savings, and it is operated/opened by non-resident Ethiopians/non-resident foreign nationals of Ethiopian origin. You can open an account either physically or via an agent, or as a couple. Deposits must be done in foreign currency.

  • Diaspora consumer loans
  • Mortgage/home loan
  • Loan Interest Rate: – from 8.5% per annum

Diaspora customers can get a mortgage loan for the construction and purchase of a house or another house with an existing compound. Cooperative Bank of Oromia is to give a grace period of one year with a special banker who’d act as an advisor for the customer. Loans by CBO, which run an interest rate from %8.5 per annum, can be up to 20 years for both local and foreign currencies, with an equity contribution that starts with %20 of the house constructed/purchased.

Automobile Loan

This is a term loan for Diaspora who’d like to acquire a new car/automobile. The loan repayment can be scheduled for up to 10 years, with a grace period of 6 months. On the other hand, used automobiles can be given a grant if its year is of 7 years or less.

Read more detailed information about car loan and requirements here.

Personal Loan

The loan period shall be up to five years. This is a term loan, of up to 5 years, provided by CBO that covers urgent financial requirements, such as:

  • Medical treatment of self/family member
  • Education fee
  • Expenses of domestic/foreign travel or
  • any kind of personal expenses.

Cooperative Bank of Oromia Diaspora Business loans

Investment Financing

Of the project submitted by Diaspora, Cooperative Bank of Oromia is to finance not more than 80%, with 20% to be financed by the promoter from his/her own equity, which shall be transferred via our bank. Documents required to borrow for projects are:

  • legal documents
  • An approved construction plan
  • Project proposal
  • Investment license
  • Memorandum & article of association
  • Landholding certificate/lease agreement
  • TIN
  • Working capital loans

Diaspora who is running businesses within Ethiopia is eligible to ask for working capital loans that the Cooperative Bank of Oromia provides. There are documents that CBO requires, which are: Documents related to collateral, which CBO will offer

Tax clearance, Business license, Financial Statements/Financial Plan, TIN, Cooperative Banking, Cooperatives Financing, Mechanization, Working capital for agricultural products, Model Farmers, Beekeeping, Input Loans, Dairy Farming, Agro-processing, Working capital for exportable items, etc

Resource Mobilization from cooperatives and farmers household, Foreign currency, Remittances, Saving culture development, Capacity Building (Coops Personnel), Technical Advisory role, Training, Both Local and abroad, Awareness creation, Linkage with stakeholders, Such as NGOs, etc

Cooperative Bank of Oromia Interest-Free Banking

Customer’s Account

  • Wadiah Saving Account

    With unlimited withdrawals numbers, the customer can deposit with Cooperative Bank of Oromia

  • Labbaik Saving Account

    This is directed to those who want to travel to Mecca & Medina and do Hajji or Umrah. The deposited amount by the customer is to be availed at his/her request.

  • Wadiah Demand Deposit/Current Account

    This is a type of accounts provided by Cooperative Bank of Oromia where customers do deposits and the bank safely keeps the money with no interest.

  • Mudharabah Unrestricted Investment Account

    The deposited amount is to be set on CBO’s general pool of Shariah Law Banking services and activities, and in return, he/she gets a shared percentage or portion of the lost capital.

  • Mudharabah Restricted Investment Account

    The deposited amount is to be invested into a project by the customer’s choice, and in return, he/she gets a shared percentage or portion of the lost capital.

  • Wadiah Special Accounts

    Is a safekeeping account operated by cheque. customers deposit money to be safely kept within the Cooperative Bank of Oromia.

Financing

  • Murabaha Financing

    This is a contract of promise between Cooperative Bank of Oromia and the customer to sell and purchase a commodity, machinery, vehicle, etc on a pre-agreed upon profit added to the cost

  • Ijaraha Financing

    This is a form of financing where the Cooperative Bank of Oromia is to finance leases of properties.

  • Salam

    The seller in this situation is to supply some goods, usually agricultural goods requested by the buyer at some time in the future in return for an advanced price that is fully paid on the spot.

  • Istisna

    Cooperative Bank of Oromia is to act as a manufacturer/constructor here to manage, as per specification: Power station, House construction, roads projects, Plant, etc

Investment

  • Mudharaba Investment

    This is a partnership between Cooperative Bank of Oromia and the customer with shared profit and loss as agreed upon.

  • Musharaka Investment

    Joint ownership of either property, equipment, or commercial enterprise where one partner is to profit as per the agreed-upon ratio, while losses are to be shared n equal proportion against the capital contribution of that partner.

  • Diminishing Musharakah

    This is a co-ownership where two or more people, say COB and the customer, share the ownership of a tangible asset, in a pre-agreed upon ratio. One of the co-owners is to manage to purchase in split installments the share of the other co-owner until the title is transferred to the client/co-owner.

  • Kafala

    This is a written promise by Cooperative Bank of Oromia that they will pay a sum of money to a recipient, either local or foreign, if the obligor, its customer, fails to satisfy his/her/its obligations in alliance with the terms and conditions of the contract. There are many types of Kafala that Cooperative Bank of Oromia does:

    Customs Duty Guarantee, Performance Bond, Retention Payment Guarantee, Bid Bond, Letters of Indemnity for Missing Documents, Advance Payment Guarantee, Trade Services, Wakalah Letter of Credit

    This is a written document where Cooperative Bank of Oromia gives such a document at the request of a buyer under the Wakala Contract to make payments/accept bills. It is to be drawn by the seller up-to some sort amount of money within a specific timeframe.

  • Murabaha Import Letter of Credit

    A contract between Cooperative Bank of Oromia, who buys the goods for a customer, and afterward the customer agrees to in, the long run, purchase the goods from the Bank via re-sale.

  • Musharaka Letter of Credit

    This is a contract where the value of of the credit issued by Cooperative bank of Oromia are shared between the bank itself and the customer of the bank, based on pre-agreed upon contract.

  • Wakala Export Letter of Credit

    Cooperative Bank of Oromia appoints the exporter as its agent for the collection of receivables on the bank’s behalf

  • Wakala Documentary Collection (Wakala Cash Against Document – CAD)

    This is a transaction in which both the importer and exporter have a contract. The exporter delivers documents to the importer via the Cooperative Bank of Oromia. If the total price is paid and collected fully, then the buyer gets the purchased goods.

  • Wakala Advance Payment

    This is a transaction in which the importer does payment for the goods to be imported before the shipment, and he/she shall trust the supplier that he/she will ship the goods on time and that the goods are as agreed upon.

  • Wakala Consignment Basis Payment (for Export)

    This is a transaction method where a local exporter exports goods to a foreign importer, who is supposed to pay the exporter only if the goods are sold

Cooperative Bank of Oromia Credit Worthiness:

  • Non-Performing Loans (NPLs): 9.4% of total loans
  • Provision Coverage Ratio: 71.2%

Banking Fees

  • Service Charges:
    • Current Account Maintenance Fee: ETB 500-1,000 per annum
    • Savings Account Maintenance Fee: ETB 200-500 per annum
    • Overdraft Facility Interest Rate: 18% per annum
  • Transaction Fees:
    • Cash Withdrawal at ATMs: ETB 50-100 per transaction
    • Electronic Payment Service (EPS) Transactions: ETB 20-50 per transaction

Financial Reports

  • Assets: As of December 2023, the bank’s total assets stood at ETB 45.8 billion (approximately USD 1.2 billion).
  • Capital Adequacy Ratio (CAR): The bank’s CAR was 15.6% as of December 2023, which is above the minimum requirement of 10%.
  • Profitability: The bank reported a net profit of ETB 1.2 billion (approximately USD 30 million) in 2023.
  • Liquidity Ratio: The bank’s liquidity ratio was 34.5% as of December 2023, indicating that it has sufficient liquid assets to meet its short-term obligations.

Contact Information

Toll-free Number: 609

Cooperative Bank of Oromia phone number: +251 11 515 0229

Cooperative Bank of Oromia email address: [email protected]

SWIFT: CBORETAA, Addis Ababa, Ethiopia

Cooperative Bank of Oromia Head Office: Africa Avenue, Flamingo Area, Get House Building, Addis Ababa, Ethiopia

7.6

Cooperative Bank of Oromia

Loan Interest

5.4

Mobile Banking

10

Internet Banking

6

Saving Interest

9.9

Customer Service

7.2

Diaspora Benefit

7

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