Ecobank Group Records 32% Growth In PBT Of N146.5bn For 2019

Ecobank Transnational Incorporated (ETI) has recorded a 32 per cent growth in profit before tax of N146.5 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 Monday, reported gross earning of N842.5 billion, up by 9 per cent against the figures for the previous year.

A cursory look into the bank’s financials, showed that, Profit after tax stood at N99.5 billion and total asset went up by 5 per cent to close at
N8.6 trillion.

Further x-ray of the financials revealed that,
Gross earnings was up by 9 per cent to close the year at N842.5 billion, even as Revenue rose by 3 per cent to close in the same year under consideration at N586.9 billion.

Also, Total assets grew by 5 per cent to N 8,621.9 billion. Loans and advances to customers was up 2 per cent to N3,383.2 billion. Deposits from customers appreciated by 2 per cent to N5,925.0 billion and Total equity was up by 9 per cent to close the year at N688 billion respectively.

Post Author: Friday Ekeoba