Ecobank Plc released its 2022 Q3 results on Thursday, December 1, 2022, reporting a pre-tax profit of N59.734 billion. This represents a 2% increase from the N58.351 billion the company reported during the same period in 2021.
Interest income
- 2022 Q3: N168.6 billion
- 2021 Q3: N162.4 billion
- Change: +4%
Operating income
- 2022 Q3: N191.04 billion
- 2021 Q3: N181.3 billion
- Change: +5%
Operating expenses
- 2022 Q3: N108.5 billion
- 2021 Q3: N 104,1 billion
- Change: +4%
Pre-tax profit
- 2022 Q3: N59.7 billion
- 2021 Q3: N58,4 billion
- Change: +2%
Net Profit after tax
- 2022 Q3: N40.1 billion
- 2021 Q3: N41.9 billion
- Change: -4%
Bottom line: Though the growth in pre-tax profits was due to the increase in interest income as investment securities in treasury bills, bonds, and others, the net profit dropped following a rise in operating expenses.