In a recent notice sent to the Nigerian Stock Exchange (NSE), Ecobank Trans International (ETI) has announced changes to its board. Two Executive Directors (EDs) of the bank, Adesegun Akin-Olugbade and Ignace Clomegah have resigned from the board to focus on other responsibilities.
Mr Monish Dutt, has appointed to the board. Monish is a seasoned professional who is a consultant on emerging markets. He is a director of Sagicor Financial Corporation, a pan-Caribbean insurance group. Monish Dutt is a nominee of the International Finance Corporation and replaces Kadita Tshibaka who has left the board having reached the retirement age of 70.
ETi, was founded in 1988 and is the parent company of pan African bank Ecobank. ETI has operations in 36 African countries and employs over 17,000 people. ETI shares are currently trading at N16.96 in today’s NSE trading session, up 1.25%.
Half year results for the 6 months ended June 2017 show gross profit increased from N273 billion in 2016 to N386 billion in 2017. Profit before tax increased from N41.5 billion in 2015 to N41.6 billion in 2017. ETI shares closed at N16.90 in todays trading session on the NSE up 0.9%.
Here is a copy of the notice.