Audio By Carbonatix
Strong revenue growth has seen ECOBANK record an appreciable jump in its profit for last year.
Revenue shot-up by 30 percent as a result of good earnings from its business.
The bank saw a substantial growth in deposits, assets, loans advanced to customers and a huge leap in returns to shareholders.
Profit after tax went up by 20 percent to 72.3 million Ghana cedis.
Ecobank’s expenses however went up substantially due to some cost in opening new branches.
Samuel Ashitey Adjei Managing Director of ECOBANK attributed the revenue growth to “the three main business segments- corporate, domestic and capital.”
“I think all three segments contributed equally because we tried to balance performance."
He was hopeful the performance will be sustained this year because the business module remains virtually the same.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Fuel, taxes and loans are driving up airfares – Prof Quartey
7 minutes -
Ghana, Côte d’Ivoire mark major border milestone with 37 new pillars
27 minutes -
Almost everything in Ghana is expensive – CUTS Director on airfare debate
37 minutes -
NAFCO builds GH¢100m food buffer as Ghana moves to strengthen food security
53 minutes -
Oil heads higher as US-Iran peace talks in stalemate
1 hour -
GAF sets Sept. 28–30 for Documentation, Body Selection Exercise
1 hour -
I resigned five months ago – BoG Governor Asiama explains GoldBod Board exit
2 hours -
Trump says men arrested at UK air base used by US were looking to do ‘big damage’
2 hours -
Trump confirms meeting with Anthropic’s Amodei, repeats dismissal of AI fears
2 hours -
China pushes back against US on Iran and Cuba in UN speech
2 hours -
OpenAI, Anthropic CEOs called to appear at Australian AI probe
3 hours -
No land is worth a human life – Sissala West MP mourns 2 dead in Buo-Tiwii clashes
5 hours -
GCAA explains why some prospective airlines fail to complete certification
5 hours -
WHO says Congo Ebola outbreak spreads to two new health zones
5 hours -
Nigeria come from benhind to win in AFCON 2027 qualifier
5 hours