Finance
Ecobank Group Records 32% growth in profit before tax of N146.5bn for 2019
Ecobank Transnational Incorporated (ETI) has recorded a 32% 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 earlier today 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 Result
Ecobank Group reports audited Full year 2019 results
– 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
-
Finance1 day agoCBN confirms 82 BDCs fully licensed under revised guidelines
-
Economy1 day agoBayelsa bans illegal mining activities
-
Economy1 day agoMiners kick against northern governors’ proposed ban on mining activities
-
Uncategorized1 day agoCentral bank body BIS raises concerns of gold and stocks double bubble
-
Uncategorized1 day agoVisiting US lawmaker say rescue of 100 children a positive security step forward
-
News8 hours agoNASS members vow to delay Tinubu’s 2026 budget over constituency projects funding
-
Finance1 day agoNigeria’s foreign reserves hits $45bn, rose by $374.66m in one week
-
Economy8 hours agoAfrexim says Africa must raise factoring volumes to at least €240bn to support SME led transformation