Ecobank Group Records 32% growth in profit before tax of NGN146.5 billion for 2019

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Ade Ayeyemi ETI GMD

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.

 The bank which released its figures to the Nigeria stock Exchange, reported gross earnings 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.

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. And total equity up 9% to NGN 688 billion.

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