Ecobank attributes 2014 record profits to prudent funds management

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Ecobank has attributed its 2014 record financial results to prudent management of funds.

The bank's profits for last year hit 319 million Ghana cedis, the highest profit recorded by the pan African bank since it started operations in Ghana.

The earnings are also the highest posted by any bank in the country for last year.

Chief Finance officer of Ecobank, Edward Botchway, told Joy Business the bank's performance was the result of three key factors.

"We find ways to, number one, ensure that our cost are well controlled; number two, we meet the customer needs and number three, we find ways to increase our income. And for me these are three key things that every business would find a way to address", Mr Botchway said.

Ecobank, this record performance has become the biggest in the country in terms of assets, deposits, and loans advances.

The bank has also seen a substantial growth in most of its areas of operation, especially in the areas of loans advances and customer deposits.

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