MATTU UNIVERSITY

  C OLLEGE
OF
BUSINESS AND ECONOMIC

DEPARTMENT OF MANAGEMENT

SUMMER PRACTICAL ATTACHMENT IN OROMIA COOPERATIVE BANK

ILU BRANCH

Prpard BY: Ibsa Ademe

ID/NO: 6369/12

Submitted To: Management Department

 Submitted Date: 05\02/2015

Abstract

The aim of this report is to explain about my internship experience at Cooperativebank of
Oromia, Dhadhacha Arara Branch. And also, the background of the
CBO followed by role and responsibilities of mine in that specific organization. Also I tried to
explain the overall benefit gained from the internship experience that arein terms of
improving my practical skill ,improving my team playing skill,improving my leader ship skill, and
entrepreneurship skill. Lastly, I discussed withconclusion and recommended the problem that is
really presented in the programand activities that must be taken to solve the problem.

Chapter one

1. Introduction

1.1. Background of the organization

1.1.1 Description of the organization

Establishment: Cooperative Bank of Oromia (S.C.) was registered

commerciallyon October 29, 2004 in accordance with article 304 of Commercial Code of Ethiopi
a. It was established in line with proclamation no. 84/1994 with authorizedcapital of Birr 300
million. It started operation on 8th march 2005, with paid upshare capital of birr 112 million.

The first and the only cooperative bank in Ethiopia is cooperative Bank Of Oromia. Formally sta
blishing project office in 2002. Obbo Haile Gabre Luberegarded as the founding father of
Cooperative Bank of Oromia.

1.1.2 Vision

To be the leading private bank in Ethiopia by 2025.

1.1.3 Mission

We root our foundation in communities to provide banking solutions that

creategreater customer experience with emphasis to cooperatives and agro-based businesses t
hrough proper use of human resource and up-to-date technologies tomaximize stakeholders’
value.

1.1.4 CBO Values: -

 Integrity
 Customer Satisfaction
 Learning Organization
 Teamwork
 Cost Consciousness
 Concern for Community

Salient Features

 Social and Cultural values-oriented services

 First bank of its kind in the country
 Broad ownership base and diversified ownership structure
 Give priority to the unbanked society

Objectives

 To promote saving culture and create access to loans

Corporate Governance

Our corporate governance reveals on how the Board has functioned and thestructures of
governance. The Bank functions under a governance framework thatenables the Board to
discharge its role of providing oversight and strategic
counselwith its responsibility to ensure the Bank’s compliance with regulatory requirements
and acceptable risk 

1.1.4 Employees information

CBO Dhadhacha Arara branch has total employees of 17. Among them 11 aremales and 6 are
females.

 Branch manager …1
 Supporter………….3
 Security …………. .6
 Accountant ………..1
 Cashier …………….1
 Customer officer…....4

 Auditor ……………...1

1.1.5. The main service of the CBO

CBO give the following service for its customers.

 Interest free banking services

 Deposit
 Financing
 Guarantee
 Money transfer 
 Foreign currency exchange
 Trade service
 Investment loan
 Internet banking
 Mobile banking
 Saving interest
 Mobile top up
  Demand account micro finance loan
 Foreign Remittance
 Card banking; ATM and POS
 Diaspora deposit account
 Current account
 Savings account
 Fixed time account
  Ethiopian Citizen or Origin living in Foreign Land (ECOLFL) SavingsAccount
 Diaspora consumer loans
  Mortgage/home loan
 Automobile loan
 Personal loan
 FIXED TIME ACCOUNT
 Features and Benefits

It is an interest-bearing account with agreed maturity date,

The amount needed to open the account shall at least be USD 100 or itsequivalent of the
eligible currency,

The minimum maturity period is three months that could be opened with aninitial deposit of
USD 5,000Interest on such accounts shall be payable only if they are maintained at leastfor the
minimum period,

Interest income on such accounts is tax-free.

 ETHIOPIAN CITIZEN OR ORIGIN LIVING IN FOREIGN LAND(ECOLFL)

SAVINGS ACCOUNT
 Features and Benefits

Local currency savings account opened by non-resident Ethiopians or non-resident foreign

nationals of Ethiopian origin
An applicant(s) can open in person or through his/her/their agent at a nearby branch of
Cooperative Bank of Oromia

All deposits to the account shall be made in foreign currency

This account will bear annual interest equivalent to the prevailing NBE setsavings interest rate

Couples can open Joint ECOLFL Savings Account

DIASPORA CONSUMER LOANS

MORTGAGE/HOME LOAN• Construction of new residential

house,Construction of additional house within an existing compound such asservice quarters or
the main housePurchase/acquisition of residential house

About CBO Diaspora Banking

Cooperative Bank of Oromia (CBO) has undergone massive transformation inrecent years by
adopting culture of quality customer services that aligns withcontemporary banking services.
Currently, CBO is the leading bank in terms
of  both customer base with more than 4.8 million customers and 416 branchesnetwork across
the country and has more than 30 billion assets.

Following the favorable political environment prevailing in Ethiopia, Diasporas are

coming back to their home land and have interests to engage in differentinvestment
opportunities. Keeping that in mind, CBO wishes to entrust you with anumber of products
designed for your needs while ensuring a smooth partnershipno matter where you are in the
world.

CHAPTER- 2

2.1 Major duties and responsibilities

At CBO my duties was :

  New Account opening
 Helping customers by filling the withdrawal and deposit on the form
 Identifying different formats of papers used for transaction purpose
 Looking the window transaction information on the system
 Giving services as needed per the manager and other customer officers
 Performing different auditing tasks
 Treating customers with good approach
 Working out on bank reconciliation

2.4 Benefit of this internship

The most important benefits that I gained from the CBO’s activities areimprovement
of my practical skill on how customers are attracted toward service.In general, the following
points are the most developed qualities of works thoseare greatly encouraging us for being
successful in our daily activities gained frominternship program.

 productivity.
  Willingness to learn from others.
 Cooperation within workers
 Patience
 Working with people of different background
 Gained skill and knowledge on business disciplines.
  Sociality within employees at the organization.

CHAPTER 33. Reflections

For the past one month of this internship, I gained a lot of experience from bothcoworkers and
my supervisor.

And also, since the behavior of the bank’s activitiesare connected with customers of different
background and behavior, this will helpme to improve my future career. This internship
provided me practical things of what I learned in the theoretical class. And this internship
changed my wrongattitude regards to how bank and money are related to each other. And also
thisinternship used as a bridge between theoretical part and actual part.

I have gainedknow how- how of foreign currency. This internship really builds my
personalitywith regards to the following;

 Being Responsible for my action

 Be a man of hard working
 I have learned patience
 Taking calculated risk 
 Working under pressure
 Punctuality
 Honesty
 Team player 

Chapter 4 Conclusion and Recommendation

4.1 Conclusion

Internship is very important program in which the students are exposed to realapplication area
of their concern there by developing their practical skill in proper manner. And I as an intern of
BME, the internship helped me more than you think.The internship is the mirror of what the
student sees his real person in it.

4.2 Recommendations for improving the internship program

To improve this program, the university, the organizations, supervisors, studentsand others
must be work together.

These are areas which must be improved: -

  Some organization simply takes acceptance for the student without any preparation at
the place students assigned.
  The school /Department/ should have to prepare appropriate related organizationwith
their specific field of study for their internship