Ecobank group records pre-tax profit of $103 million in Q1 2019

Banking
Monday, 06 May 2019 14:38
Ecobank group records pre-tax profit of $103 million in Q1 2019

(Togo First) - During the first quarter of 2019, Ecobank Transnational Incorporated recorded a pre-tax profit of $103 million, down 8% compared to the same period in 2018 (However, after readjusting with currency exchange, it rose 31% to $145 million).

Meanwhile interest earnings amounted to $172.3 million at 31 March 2019, thus slumping 31% compared to the same period last year ($248 million).

The lender’s Director General, Ade Ayeyemi, said at its 31st general assembly that the figures are satisfying especially given the actual difficult macroeconomic context, adding that Ecobank’s “diversified business model remains a major advantage”.

Ayi Renaud Dossavi

 
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