Siinqee Bank, the previous Oromia Credit and Saving S.C., managed to secure a net profit of Birr 560.5 million, which is a 54% increment as compared to last year. It has managed to reach a capital surge of 175%, rising from Birr 2.8 billion, to reach Birr 7.7 billion, in the last fiscal year. The company’s assets also grew to Birr 16 billion, and mobilized over birr one billion in net savings in the fiscal year and the total net savings of the company reached Birr 6.1 billion.
The bank had attracted 623,525 new borrowers, making the total active clients to reach over one million with total outstanding loan portfolio of ETB 12.8 billion, among which ETB 9.7 billion was disbursed during the financial year. The number branches has increased to 402.
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