Yemisi Izuora
Ecobank Transnational Incorporated (ETI) has recorded a 32 per cent 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, NSE, reported gross earning of NGN 842.5 billion, up by 9 per cent against the figures for the previous year.
Profit after tax stood at NGN 99.5 billion and total asset went up by 5 per cent to close at NGN 8.6 trillion
Ecobank Group Gross earnings was up 9 per cent to N842.5 billion, Revenue up 3 per cent to NGN 586.9 billion, Profit before tax up 32 per cent to NGN146.5 billion and Profit after tax up 28 per cent to NGN 99.5 billion.
Total assets went up by 5 per cent to NGN 8,621.9 billion, while Loans and advances to customers up 2 per cent to NGN 3,383.2 billion, Deposits from customers up 2 per cent to NGN 5,925.0 billion and Total equity up 9 per cent to NGN 688 billion