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Home Companies Corporate Updates

Ecobank Group records 32% growth in PAT of N146.5 billion for 2019

NM Partners by NM Partners
March 24, 2020
in Corporate Updates
Ecobank Nigeria

MD Ecobank

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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 yesterday, 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.

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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

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Tags: Company Financial ResultsEcobank GroupEcobank Transnational IncorporatedETI 2019 FY ResultsNigeria Stock ExchangeNigerian Business NewsNigerian Company Results
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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