Ecobank's nine-month profit up 847% despite slight earnings growth

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That it achieved even though gross earnings expanded by as little as 4.4 per cent $1.7 billion.

posted, for the nine-month period to September, a profit after tax more than eight times higher than the figure it reported a year earlier, the Lome-based lender said on Monday.

The two key earnings sources – interest income and fees & commission income – saw mild improvement with the former growing by 4 per cent and the latter 17 per cent. Growth in its Nigerian and AWA operations helped avert what would have been a slide in its loan portfolio, cushioning the impact of decreased credit within UEMOA and CESA.

 

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