For the 2019 financial year, Ecobank Transnational Incorporated (ETI) recorded profit before tax of N146.5 billion, representing 32 per cent increase when compared with the year 2018.
In the financial performance released to the Nigeria stock Exchange (NSE) on Monday, the ETI reported gross earning 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.
Summary of the performance are:
– Gross earnings up 9% to NGN 842.5 billion
– Revenue up 3% to NGN 586.9 billion
– Profit before tax up 32% to NGN146.5 billion
– Profit after tax up 28% to NGN 99.5 billion
– 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
– Total equity up 9% to NGN 688 billion
