WorldStage Newsonline– Ecobank Transnational Incorporated, a leading provider of retail, corporate and investment banking services throughout sub Saharan Africa outside South Africa has released its unaudited consolidated financial statements for the year ended 31 December 2020 with gross earnings down 7% to $2,169.8 million (down 2% to NGN 829.0 billion) while revenue went up 2% to $1,649.9 million (up 7% to NGN 630.3 billion).
Highlights of the result showed that Operating income before impairment losses up 10% to $606.2 million (up 17% to NGN 231.6 billion); Profit before tax and goodwill impairment down 18% to $330.8 million (down 14% to NGN 126.4 billion); Profit before tax down 58% to $171.3 million (down 55% to NGN 65.5 billion); Profit after tax down 66% to $93.9 million (down 64% to NGN 35.9 billion).
Others include total assets up 9% to $25.7 billion (up 19% to NGN 10,270.1 billion); Loans and advances to customers stable at $9.2 billion (up 9% to NGN 3,699.6 billion); Deposits from customers up 12% to $18.2 billion (up 23% to NGN 7,301.3 billion); Total equity up 7% to $2.0 billion (up 17% to NGN 805.1 billion)
ETI is a limited liability company and is incorporated and domiciled in the Republic of Togo
ETI and its subsidiaries had operations in 39 countries and employed over 14,023 people as at 31 December 2020 (31 December 2019: 14,878).
