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BANKING & FINANCE

Ecobank Reports 47.4 Per Cent Gain On Pre-Tax Profit

Pan-African banking group, Ecobank, on Thursday, posted a 47.4 percent jump in half year profit before tax of N61.41 billion ($309 million) versus the same period a year ago.

Ecobank said gross earnings climbed to N211.32 billion in the period to end-June from N175.05 billion a year ago.

“We continued to drive cost efficiencies in our businesses and our cost-income ratio improved to 62.5 percent compared to 68.1 percent in the previous year,” Albert Essien, Ecobank’s chief executive officer said in a statement.

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Comments (1)

  1. […] Ecobank Transnational Incorporated has notified the Nigerian Stock Exchange of its receipt of a one-year senior unsecured loan facility of $285 million from Deutsche Bank AB. […]

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