ETI Declares N99bn PAT in 2019 Audited Results,(SP:N4.90k)

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Monday, March 23, 2020 /12:37 AM / by NSE With Additional Press Release from the Bank / Header Image Credit: African Business Central


Ecobank Transnational Incorporated released its 2019 Audited results for the period ended December 31st, 2019.


Key Highlights

  • Gross Earnings grew by 9.1% to N842bn from N773bn in the previous quarter.

  • Profit before tax grew by 32.2% to N147bn.

  • Profit after tax grew by 28.4% to N99bn.

  • Net Assets also grew by 9% to N688bn from N631bn.

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Press Release from the Bank

Ecobank Group Records 32% growth in profit before tax of NGN146.5 billion for 2019

 

Ecobank Transnational Incorporated (ETI) has recorded a 32% growth in profit before tax of NGN146.5 billion for 2019 financial year. This was up from the N110.8 billion recorded in 2018.

 

The bank which released its figures to the Nigeria stock Exchange earlier today reported gross earning of NGN 842.5 billion, up by 9% against the figures for the previous year.

 

Profit after tax stood at NGN 99.5 billion and total asset went up by 5% to close at NGN 8.6 trillion.

 

Summary of Result

 

Ecobank Group reports audited Full year 2019 results

  • Gross earnings up 9% to NGN 842.5 billion
  • Revenue up 3% to NGN 586.9 billion
  • Profit before tax up 32% to NGN146.5 billion
  • Profit after tax up 28% to NGN 99.5 billion
  • Total assets up 5% to NGN 8,621.9 billion
  • Loans and advances to customers up 2% to NGN 3,383.2 billion
  • Deposits from customers up 2% to NGN 5,925.0 billion
  • Total equity up 9% to NGN 688 billion


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