H1 2018 Result: Ecobank Bank Plc posts N65.1 billion profit before tax

Ecobank Transnational Incorporated (ETI) recently released its H1 2018 financial statements for the year ended 30 June 2018.

Here are the key highlights of the reports:

Revenue

The bank reported Gross earnings of ₦384.59 billion for the period ended June 2018 compared to ₦386.82 billion reported for the period ended June 2017. This represents a 1% decrease for the comparative period in 2017.

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Profit Before Tax

Profit before tax was ₦ 65.1 billion for the period ended June 2018, a 41% increase from ₦ 46.2 billion reported for the period ended June 2017.

Profit After Tax

The company’s profit after tax for the half year ended 30th June 2018 was ₦ 51.6 billion as against ₦37.7 billion recorded in H1 2017.

Earnings Per Share

Ecobank Transnational Incorporated (ETI), however, reported an earnings per share of 167 kobo for the period ended June 2018, compared to 131 kobo reported for the comparative period in 2017.