September 22, 2020

Ecobank Group Records PBT Of N146.5 Billion

Ecobank Transnational Incorporated (ETI) has recorded a 32% growth in profit before tax of NGN146.5 billion for 2019 financial year. This was up from the N110.8 billion recorded in 2018.

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The bank which released its figures to the Nigeria Stock Exchange earlier today reported gross earning of NGN 842.5 billion, up by 9% against the figures for the previous year.

Profit after tax stood at NGN 99.5 billion and total asset went up by 5% to close at NGN 8.6 trillion

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Summary of Result

Ecobank Group reports audited Full year 2019 results

  • Gross earnings up 9% to NGN 842.5 billion
  • Revenue up 3% to NGN 586.9 billion
  • Profit before tax up 32% to NGN146.5 billion
  • Profit after tax up 28% to NGN 99.5 billion
  • Total assets up 5% to NGN 8,621.9 billion
  • Loans and advances to customers up 2% to NGN 3,383.2 billion
  • Deposits from customers up 2% to NGN 5,925.0 billion
  • Total equity up 9% to NGN 688 billion
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