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OIB held 9th General Meeting of Shareholders

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Oromia International Bank held its 9th Annual Ordinary General Meeting of Shareholders colorfully here in

Finfinne at Millennium Hall on Saturday 3rd November, 2018.

The opening of the meeting was decorated by the inauguration of OIB’s jingle which was performed by choreographers

and the launching ceremony of the 10th Anniversary of the Bank.

The Board of Directors Chairperson Obbo Gaddissa Bultossa presented the just ended fiscal year performance report of the

Bank. He stated that OIB had been operating within the ever stiffer competition over fundamentals of banking business such

as Deposit, Foreign Currency (FCY), Experienced Human Resource, and Branch Offices. However, the leadership of the Bank

deployed prudent strategies and manoeuvres not only to keep the momentum but also to register shining performance in the

just ended fiscal year. We also made a strong fight to acquire our market share that enables us seize a remarkable position

that we reach on today.

“On the other hand, the shortfall on export trade as a country, the recurrent power cut, internet access interruption especially in most

regions due to instabilities were the major challenges the Bank encountered during the year under review,” Gadisa said.

He also indicated that OIB is pressing ahead with operational performances such as deposit mobilization, income generation,

branch expansion, among others. As the Bank extends its geographic presence, job opportunities are created for a number of citizens,

he added. Gadissa further emphasized in his report that OIB has continued discharging its corporate social responsibility to respond

to humanitarian crisis caused by natural and man-made disasters. To this end, the  Bank had donated Birr 20 million (Birr 15 million

from the Bank and Birr five million by staffs from their salary) to the displaced during the fiscal year in addition to other social concerns.

The External Auditor also presented the 2018/19 financial report of the Bank which was adopted in International Financial Reporting

Standard (IFRS) for the first time. The shareholders lively discussed issues related to performance and audit report of the Bank.

Majority of the shareholders convened at the assembly and it was successful and colorful meeting.

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