Oromia International Bank S.C. (OIB) was established in accordance with the pertinent laws, regulations and the 1960 Commercial Code of Ethiopia, by the Monetary and Banking Proclamation No. 83/1994 and by the Licensing and Supervision of Banking Proclamation No. 592/2008. Accordingly, on September 18, 2008, OIB obtained a banking business license. At the time of its establishment, OIB’s authorized capital was Birr 1.5 billion, whereas its subscribed capital was Birr 279.2 million, and its paid-up capital Birr 91.2 million. OIB began operation on October 25, 2008 by opening its first branch at the Dembel City Center. More specifically, its branch was named Bole Branch.
The Bank has been in operation for over the last seven years. Now, the Bank has grown its authorized and subscribed capital to Birr 3 billion and its paid up capital is Birr 887.6 million.
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