Ecobank Group posts N40.3bn profits in Q1

Massive appetite as Ecobank $350m Eurobond receives 360% global oversubscription

Ecobank Group posts N40.3bn profits in Q1   It was a great start with renewed energy for Ecobank Transnational Incorporated (ETI) in 2021 as the financial institution delivered positive numbers at the end of the first quarter. The Bank reported that its profit before tax rose by 22 per cent to N40.3 billionn in the first quarter of 2021. Ecobank disclosed this in a statement on its unaudited results for the period ended March 31, 2021, titled ‘Ecobank Group declares superlative Q1 result; PBT up 22 per cent to N40.3…

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Ecobank Group’s profit crashes 57% to $174m in 2020

Massive appetite as Ecobank $350m Eurobond receives 360% global oversubscription

Ecobank Group’s  profit crashes 57% to $174m in 2020     Ecobank Transnational Incorporated Group (ETI) has recorded significant decline in its profit for the year ended December 31, 2020. According to its financial report for the year filed at the Nigerian Stock Exchange (NSE), the profit after tax (PAT) of the lender stood at $174 million, down  $231 million or 57 per cent from 2019. According to the report, notable items that negatively impacted profit before tax were the $164 million of goodwill charge ($159 million related to Oceanic…

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