Ecobank Ghana recorded a strong financial performance for the third quarter of this year as profit went up by 16% to GHS381 million despite covid-19 pandemic, according to its 2020 Third Quarter Results.

The bank’s Return on Equity- an important profitability indicator for shareholders- also grew by 28%.

Ecobank which is Ghana’s biggest bank according to the 2020 PwC Banking Survey benefited tremendously from non-funded transactions during the period, as non-funded income contributed 26% to total income.

The strong growth in income resulted in an increased earnings per share of GHS1.58, compared with GHS1.36 pesewas a year ago.

But for a high provision for bad debt made, the bank will have recorded very high earnings.

The balance sheet size stood a little over GHS27 billion with customer deposits growing by 19% to hit GHS10.6 billion.

In terms of stability of the bank, non-performing loans stood at 12.83%, lower than the industry average of 15.5%.

Capital Adequacy Ratio-a measurement of a bank’s available capital expressed as a percentage of a bank’s credit exposures, was way above the industry average at 17.30%, signifying a stronger bank.

The bank is highly liquid as customers can easily demand for their deposits anytime, any day.

Key Ratios

Cost to Income	45%
Return on Average Assets	4%
Return on Average Equity	28%
Non Funded Income to Total Income	26%

Financial Highlights September 2019 - September 2020

	2020	2019
Profit before Tax	546.6m	445.09m	16%
Total Assets	14.54bn	11.63bn	25%
Deposits	10.68bn	8.95bn	18%