Ecobank Transnational Incorporated Plc reports audited results for For the year ended 31 December 2020.
From the result, Ecobank Group’s gross earnings down 7% to $2,169.8 million (down 2% to NGN 829.0 billion) while revenue up 2% to $1,649.9 million (up 7% to NGN 630.3 billion).
Key financial highlights:
- Operating income before impairment losses up 10% to $606.2 million (up 17% to NGN 231.6 billion)
- Profit before tax and goodwill impairment down 18% to $330.8 million (down 14% to NGN 126.4 billion)
- Profit before tax down 58% to $171.3 million (down 55% to NGN 65.5 billion)
- Profit after tax down 66% to $93.9 million (down 64% to NGN 35.9 billion)
- Total assets up 9% to $25.7 billion (up 19% to NGN 10,270.1 billion)
- Loans and advances to customers stable at $9.2 billion (up 9% to NGN 3,699.6 billion)
- Deposits from customers up 12% to $18.2 billion (up 23% to NGN 7,301.3 billion)
- Total equity up 7% to $2.0 billion (up 17% to NGN 805.1 billion)
