Ecobank Cameroon announced on Wednesday, having achieved for 2017, a net profit of 6 billion CFA francs, a decrease of 1.5 billion compared to the previous year.
Same downtrend gross banking product which stood at 38.95 billion FCFA, against 39.31 billion a year earlier. The cost / income ratio, on the other hand, improved by two points to 56.9%, compared with 58.9% in 2016.
According to the bank’s leaders – which remains the fifth largest national bank out of fifteen active banks – this weak performance is attributable to a “difficult economic environment that goes beyond the banking sector alone”, which adds to the difficulties of implementation of the digitization strategy that it intends to continue. In particular, the bank closed down some branches and offices, reducing staff.
However, it should be noted that this digitalization strategy carried by Ade Ayeyemi, the CEO of Ecobank Transnational Incorporated (ETI, the parent company of the group), has borne fruit in all of the bank’s markets, with the key , a consolidated profit of $ 229 million at the end of the 2017 fiscal year, an increase of 3.42% over one year.
