cbe

USD
124.0086
126.4888
,
GBP
152.3866
155.4343
,
EUR
128.3365
130.9032
,
CHF
134.1436
136.8265
,
SEK
11.0023
11.2223
,
NOK
10.7134
10.9276
,
DKK
16.8993
17.2373
,
DJF
,
JPY
0.7759
0.7914
,
CAD
84.628
86.3206
,
SAR
33.0073
33.6675
,
AED
33.7659
34.4412
,
INR
,
KES
,
AUD
75.3049
76.811
,
ZAR
,
CNY
16.6728
17.0063
,
KWD
394.889
402.7867

awash

abyssinia

USD
129.8451
132.442
,
GBP
167.7564
171.1115
,
EUR
141.9513
144.7903
,
AED
35.3532
36.0603
,
CHF
158.9291
162.1077
,
SEK
13.3258
13.5923
,
NOK
12.3272
12.5737
,
CAD
93.636
95.5087
,
SAR
34.6041
35.2962
,
CNY
17.796
18.1519

abay

USD
129.9498
132.5488
,
GBP
173.7299
177.2045
,
EUR
149.3903
152.3781
,
AED
35.3778
36.0854
,
ZAR
6.9704
7.1098
,
SAR
34.6422
35.335
,
JPY
0.9261
0.9446
,
CHF
160.0367
163.2375
,
AUD
83.1679
84.8312
,
CNY
17.7685
18.1239

zemen

CAD
93.7125
95.5868
,
EUR
142.8576
145.7148
,
GBP
168.7083
172.0825
,
SEK
13.4154
13.6837
,
USD
129.9938
132.5937

buna

USD
129.9426
132.5415
,
EUR
143.9094
146.7876
,
GBP
164.1011
167.3831
,
AED
35.7075
36.4217
,
SAR
34.1012
34.7832
,
CAD
89.1012
90.8832
,
AUD
64.239
65.5238
,
JPY
0.8603
0.8775

nib

USD
129.8187
132.415
,
GBP
167.7244
171.0789
,
EUR
140.0568
142.858
,
CHF
147.2451
150.19
,
CAD
90.7188
92.5332
,
AED
35.3445
36.0514
,
SAR
34.6045
35.2966

berhan

USD
130.9737
133.5932
,
EUR
146.3914
149.3192
,
GBP
168.68
172.0536
,
CAD
94.7643
96.6596
,
AED
35.6566
36.3697
,
CNY
17.9662
18.3255

wegagen

USD
129.9501
132.5491
,
GBP
172.4568
175.9059
,
EUR
147.3634
150.3107
,
CHF
156.8888
160.0265
,
SEK
13.4109
13.6791
,
CNY
17.8032
18.1592
,
JPY
0.9097
0.9278

dgb

USD
128.1012
130.6632
,
EUR
137.0599
139.8011
,
GBP
157.4803
160.6299
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
36.7329
37.4675
,
CAD
79.1617
80.7449

enat

USD
130.0305
132.6311
,
EUR
145.1317
148.0343
,
GBP
169.3271
172.7136

ahadu

USD
130.0001
132.6001
,
GBP
174.1091
177.5913
,
EUR
149.9811
152.9807
,
CAD
58.8603
61.8033
,
SAR
21.7111
22.7967
,
AED
22.1751
23.2839

addis

EUR
146.4079
149.3361
,
GBP
171.4862
174.9159
,
USD
129.981
132.5806
,
CHF
160.0751
163.2766
,
JPY
0.9263
0.9448

dashen

USD
129.8515
132.4485
,
EUR
141.5381
144.3689
,
GBP
167.158
170.5012
,
CAD
84.9226
86.621
,
AED
31.9936
32.6335
,
SAR
31.3241
31.9506
,
CNY
16.2776
16.6031

oromia

lion

USD
131.4923
134.1221
,
GBP
165.6027
168.9148
,
EUR
142.3674
145.2147

developmentbank

USD
129.6586
132.2518
,
GBP
173.3406
176.8074
,
EUR
149.0555
152.0366
,
CHF
159.6781
162.8716
,
SEK
13.6609
13.9341
,
NOK
12.5273
12.7778
,
DKK
19.9662
20.3655
,
DJF
0.7262
0.7407
,
JPY
0.924
0.9425
,
CAD
93.7314
95.606
,
SAR
34.5646
35.2559
,
AED
35.2985
36.0045
,
INR
1.5215
1.552
,
KES
0.9974
1.0173
,
AUD
82.9815
84.6411
,
SDR
175.6096
179.1218
,
ZAR
6.9548
7.0939
,
CNY
17.7287
18.0832
,
KWD
423.8021
432.2781

coop

USD
129.0606
131.6418
,
GBP
158.331
161.4976
,
EUR
136.4649
139.1942
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128
,
CNY
17.0172
17.3575

gadaa

USD
130.0202
132.6206
,
GBP
161.73
164.9646
,
EUR
141.2437
144.0686
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
130.9582
133.5773
,
EUR
142.1449
144.9878
,
GBP
166.066
169.3873
,
SAR
35.1016
35.8036
,
AED
35.8536
36.5707

amhara

USD
131.55
134.181
,
GBP
173.3434
176.8103
,
EUR
145.6916
148.6055
,
CAD
93.1327
94.9954
,
AED
35.8193
36.5357
,
SAR
35.0678
35.7692

tsehay

USD
131.5382
134.169
,
GBP
160.2439
163.4488
,
EUR
130.0158
132.6161
,
CAD
86.9537
88.6927
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
131.5016
134.1316
,
EUR
149.8066
152.8028
,
GBP
174.8577
178.3548
,
AED
35.8003
36.5163
,
CHF
159.5893
162.7811
,
SEK
13.7139
13.9882
,
NOK
12.6141
12.8663
,
DKK
20.0652
20.4666
,
DJF
0.7365
0.7512
,
INR
1.5389
1.5697
,
JPY
0.9266
0.9451
,
CAD
95.1462
97.0492
,
SAR
35.0568
35.7579
,
ZAR
7.0789
7.2205
,
CNY
18.0386
18.3994
,
KWD
429.4053
437.9935
,
KES
1.0139
1.0342

siinqee

USD
129.8515
132.4485
,
EUR
140.3603
143.1675
,
GBP
159.6959
162.8898
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
32.7831
33.4388

hibret

USD
129.9
132.498
,
EUR
142.0016
144.8416
,
GBP
165.1219
168.4243
,
CHF
155
158.1

gohbetoch

USD
131.0805
133.7021
,
EUR
141.1293
143.9519
,
GBP
165.0379
168.3387
,
AED
34.3079
34.9941

nbe

JPY
0.9185
0.9277
,
KWD
427.064
431.3347
,
CNY
17.9273
18.1066
,
ZAR
6.9352
7.0045
,
XDR
167.9726
169.6523
,
EUR
148.7559
150.2434
,
AED
35.6609
36.0175
,
SAR
34.9082
35.2573
,
AUD
83.482
84.3168
,
CAD
94.0908
95.0317
,
USD
130.9932
131.3238
,
KES
1.0088
1.0391
,
INR
1.5287
1.544
,
DJF
0.7336
0.7557
,
DKK
19.9208
20.12
,
NOK
12.328
12.4512
,
SEK
13.3275
13.4608
,
CHF
160.5899
162.1958
,
GBP
173.7101
175.4472

binance

USDT
157.49
156.6

Cooperative Bank of Oromia Review

Cooperative Bank of Oromia

Cooperative Bank of Oromia

8.2 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 buying selling Difference
Flag of USD

USD

($)

129.06
131.64

± 2.58

Flag of GBP

GBP

(£)

158.33
161.49

± 3.16

Flag of EUR

EUR

(€)

136.46
139.19

± 2.72

Flag of AED

AED

(د.إ)

32.99
33.65

± 0.65

Flag of SAR

SAR

(ر.س)

32.26
32.91

± 0.64

Flag of CNY

CNY

(¥)

17.01
17.35

± 0.34

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

8.2

Cooperative Bank of Oromia

Loan Interest

8.9

Mobile Banking

10

Internet Banking

6

Saving Interest

9.9

Customer Service

7.2

Diaspora Benefit

7

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