Chala Report

 

 Abstract The aim of this report is to explain about my internship experience at Cooperative bank 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 overall benefit gained from the internship experie experience nce that are in terms terms of impro improvin ving g my prac practic tical al skill ,imp ,improv roving ing my team play playing ing ski skill, ll, improving my leader ship skill, and entrepreneurship skill. Lastly, I discussed with conclusion and recommended the problem that is really presented in the program and activities that must be taken to solve the problem.

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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 commercially on Oc Octo tobe berr 29, 29, 20 2004 04 in acco accord rdan ance ce wi with th arti articl clee 30 304 4 of Co Comm mmer erci cial al Code Code of  Ethiopia. It was established in line with proclamation no. 84/1994 with authorized capital of Birr 300 million. It started operation on 8th march 2005, with paid up share capital of birr 112 million. Thee fi Th firs rstt an and d th thee on only ly co coop oper erat ativ ivee ba bank nk in Et Ethi hiop opia ia is co coop oper erat ativ ivee Ba Bank nk Of  Oromia Oro mia.. For Formal mally ly sta stabli blishi shing ng pro projec jectt off office ice in 200 2002. 2. Obb Obbo o Hai Haile le Gab Gabre re Lub Lubee regarded 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 create grea greate terr cu cust stom omer er ex expe peri rien ence ce with with em emph phas asis is to co coop oper erat ativ ives es an and d ag agro ro-b -bas ased ed  businesses through proper use of human resource and up-to-date technologies to maximize stakeholders’ value. 1.1.4 CBO Values: -

Integrity Customer Satisfaction Learning Organization Teamwork  2

 

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

Ourr co Ou corp rpor orat atee go gove vern rnan ance ce reve reveal alss on ho how w th thee Bo Boar ard d ha hass func functi tion oned ed an and d th thee structures of governance. The Bank functions under a governance framework that enables the Board to discharge its role of providing oversight and strategic counsel with wi th it itss re resp spon onsi sibi bili lity ty to en ensu sure re the the Ba Bank nk’s ’s co comp mpli lian ance ce wi with th re regu gula lato tory ry requirements and acceptable risk  1.1.4 Employees information

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

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Branch manager …1 Supporter………….3 Security …………. .6 Accountant ………..1

 

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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

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Deposit

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Financing

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Guarantee

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Money transfer  Foreign currency exchange

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Trade service

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Investment loan

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Internet banking

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Mobile banking

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Saving interest

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Mobile top up

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Demand account micro finance loan

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Foreign Remittance

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Card banking; ATM and POS

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Diaspora deposit account

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Current account

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Savings account

 

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Fixed time account

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 Ethiopian Citizen or Origin living in Foreign Land (ECOLFL) Savings Account

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Diaspora consumer loans

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 Mortgage/home loan

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 Automobile loan

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Personal loan

 

FIXED TIME ACCOUNT

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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 its equivalent of the eligible currency, The minimum maturity period is three months that could be opened with an initial deposit of USD 5,000 Interest on such accounts shall be payable only if they are maintained at least for the minimum period, Interest income on such accounts is tax-free.

 

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ETHIOPIAN CITIZEN OR ORIGIN LIVING IN FOREIGN LAND (ECOLFL) SAVINGS ACCOUNT

Features and Benefits Local currency savings account opened by non-resident Ethiopians or nonresident 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 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 set savings interest rate

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Couples can open Joint ECOLFL Savings Account

DIASPORA CONSUMER LOANS

MORTGAGE/HOME LOAN• Construction of new residential house, Constr Con struct uction ion of add additi itiona onall hou house se wit within hin an exi existi sting ng com compou pound nd suc such h as service quarters or the main house Purchase/acquisition of residential house

About CBO Diaspora Banking

Cooperative Bank of Oromia (CBO) has undergone massive transformation in recent years by adopting culture of quality customer services that aligns with contemporary banking services. Currently, CBO is the leading bank in terms of   both customer base with more than 4.8 million customers and 416 branches network across the country and has more than 30 billion assets. Following the favorable political environment prevailing in Ethiopia, Diasporas are comi co ming ng ba back ck to thei theirr ho home me land land an and d ha have ve in inte tere rest stss to en enga gage ge in di diff ffer eren entt investment opportunities. Keeping that in mind, CBO wishes to entrust you with a numberr of products designe numbe designed d for your needs while ensurin ensuring g a smoot smooth h partn partnershi ership p no matter where you are in the world.

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CHAPTER- 2 2.1 Major duties and responsibilities

At CBO my duties was : 

 New Account opening opening

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Helping customers by filling the withdrawal and deposit on the form

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Identifying different formats of papers used for transaction purpose

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Looking the window transaction information on the system Giving services as needed per the manager and other customer officers

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Performing different auditing tasks

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Treating customers with good approach

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Working out on bank reconciliation

2.4 Benefit of this internship

Thee mo Th most st impo import rtan antt be bene nefi fits ts that that I ga gain ined ed from from th thee CB CBO’ O’ss ac acti tivi viti ties es are are improvement improv ement of my pract practical ical skill on how custo customers mers are attra attracted cted toward service .In general, the following points are the most developed qualities of works those are greatly encouraging us for being successful in our daily activities gained from internship program.

 productivity.  Willingness

to learn from others.

 Cooperation

within workers

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 Patience  working  Gained

skill and knowledge on business disciplines.

 Sociality

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with people of different background

within employees at the organization.

 

CHAPTER 3 3. Reflections

For the past one month of this internship, I gained a lot of experience from both coworkers and my supervisor. And also, since the behavior of the bank’s activities are connected with customers of different background and behavior, this will help me to improve my future career. This internship provided me practical things of  what I learned in the theoretical class. And this internship changed my wrong attitude regards to how bank and money are related to each other. And also this internship used as a bridge between theoretical part and actual part. I have gained know how- how of foreign currency. This internship really builds my personality with regards to the following;

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Being Responsible for my action

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Be a man of hard working

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I have learned patience

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Taking calculated risk 

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Working under pressure

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Punctuality

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Honesty

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Team player 

 

Chapter 4 Conclusion and Recommendation 4.1 Conclusion

Internship is very important program in which the students are exposed to real application 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, students and 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 place students assigned.  The

school /Department/ should have to prepare appropriate related organization

with their specific field of study for their internship

.

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