Omo Bank S.C.

Omo Bank, originally founded as Omo Micro Finance Institution in 1997, transitioned into a commercial bank in 2022 after meeting the National Bank of Ethiopia's requirements for upgrading microfinance institutions. The bank began operations in 1998 with four branches and has since expanded significantly. As of 2022, it operates in 19 districts with 240 branches, headquartered in Addis Ababa.

The bank has made a notable contribution to Ethiopia’s economic growth and development, particularly in regions like SNNPR(South nations and nationality people region), Southwest Ethiopia, and Sidama. Omo Bank currently employs over 6,300 staff members, including a significant number of women. By mid-2022, its capital had surpassed 3.1 billion birr, with total assets reaching 12 billion birr. The bank continues to expand nationwide, opening new branches across the country.

Mission:

Omo Bank strives to contribute its part to bring about a sustainable economic development in the country by providing digitalized efficient, effective and holistic financial services to all citizens.

Vision:

To see a well-developed contemporary foremost financial institution that provides sustainable services for equitable number of people by 2035.

Core Values:

Core value of Omo Bank is

• Human resource is our imperative asset.

• We strive to organizational citizenship.

• Creativity and continuous change.

• Collaboration is our strength.

• Excellence in providing our Service & products.

• Special Respect and care for Customers.

• Credibility, Integrity and Honesty.

• Saving- led Credit is a base of our service.

• Priority for innovation / creativity and women.

• Zero tolerance for theft and fraud.

• Special attention for our model consumer.

• Strong collaboration and integration.

• Automation for change.

Omo Bank has the following product and services

1. Deposit
2. Loan and credit
3. International banking service
4. Micro-Insurance
5. Diaspora
6. E-banking
7. Interest Free Banking (IFB)

1. Deposit

1. Current account:– A type of bank account that allows individuals or businesses to store or withdraw money for everyday transactions.
2. Demand account:- A deposit that can be withdrawn or debited on short notice, such as a checking account.
3. Term deposit/time deposit:- a deposit that is kept for a specific period of time.

2. Loan & Credit

1. Term Loan/Investment: Loans for working capital or project financing, repaid in installments or lump sum based on business needs.
2. Individual and Group Loan: Loans issued to individuals or groups for personal or business purposes.
3. Micro and Small Enterprise Loan: Loans for micro and small enterprises, typically with short- to medium-term repayment.
4. Energy Supply Technology Loan: Financing for energy-related projects.
5. Agricultural Loan: Loans for farming activities, including crop production, livestock, and agro-processing equipment.
6. Other Agricultural Input Loans: Short-term loans for agricultural inputs like seeds and agro-chemicals.
7. Agricultural Investment Loan: Financing for larger agricultural projects and investments.
8. Agricultural Machinery Loan: Loans for purchasing machinery used in agricultural operations.
9. Construction Machinery Loan: Loans for acquiring construction machinery like excavators, dozers, and cranes.
10. Manufacturing Loan: Loans for manufacturing industries, covering working capital and investment in machinery.
11. Motor Vehicle Loan: Loans for purchasing vehicles for business purposes, secured by the vehicle itself.
12. Syndicate Loan: A loan shared between multiple lenders, typically medium- to long-term.
13. Idea Financing: Loans for scientific or creative projects, such as innovation or artistic production.
14. Partial Financing: Loans that cover part of a larger project or investment.
15. Loan Buyout: The bank purchases loans from other banks to manage risks or improve portfolio.
16. Interbank Lending: Short-term loans between banks to manage liquidity.
17. Equipment/Machinery Lease Financing: Loans for financing equipment leasing, typically paid in installments according to the lease terms.

3. Micro-Insurance

1. Credit life insurance
2. Crop insurance
3. livestock insurance
4. Staff insurance

4. Diaspora

1. Personal Loan
2. Investment Loan
3. House Loan

5. E-banking

1. Card
2. Mobile Banking (MBirr, USSD (*818#))
3. Internet Banking
4. Agent Banking