{"id":45238,"date":"2020-12-04T21:17:33","date_gmt":"2020-12-04T20:17:33","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=45238"},"modified":"2020-12-04T21:17:33","modified_gmt":"2020-12-04T20:17:33","slug":"ecobank-group-report-n461-billion-revenue-in-nine-months","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ecobank-group-report-n461-billion-revenue-in-nine-months\/","title":{"rendered":"Ecobank Group Report N461 Billion Revenue In Nine Months"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><span lang=\"EN-US\">Ecobank Group made N461.2 billion revenue in nine months for the period ended 30th September 2020, representing nine \u00a0per cent increase against the corresponding period of last year.<\/span><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-US\">In its\u00a0audited report submitted to the Nigeria Stock Exchange (NSE) on Friday, the pan African bank also recorded superlative performance in other key financial indices despite the harsh operating environment.<\/span><\/p>\n<p><span lang=\"EN-US\">\u00a0Summary of the report showed that gross earnings increased by 0.4 per cent to N 613.1 billion; total assets nudged up by nine\u00a0 per cent to N 9.430 trillion during the period under review as against the period of last year. Also, deposits from customers increased to N 6.686 trillion representing 13 per cent and total equity went up by three per cent at N 708.6 billion.<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p><span lang=\"EN-US\">However, despite the bank\u2019s good showing in deposits from customers, revenue and gross earnings, profits was impacted by the provisioning of about N60.5 billion for goodwill for the acquisition of Oceanic Bank in 2011.<\/span><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-US\">The bank said it is\u00a0optimistic that with the clean book aftermath of the full provisioning for Oceanic Bank, it will improve on its profitability for the year end.\u00a0Profit before tax and goodwill impairment close at N 95.1 billion.<\/span><\/p>\n<p><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Ecobank Group made N461.2 billion revenue in nine months for the period ended 30th September 2020, representing nine \u00a0per cent increase against the corresponding period of last year.\u00a0<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":37112,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[3846],"coauthors":[2391],"class_list":["post-45238","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-financial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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