The shareholders of Ecobank Transnational Incorporated (EIT) are holding the group’s 30th general meeting on Tuesday, which also marks the return of the bank’s indicators in green.
They will have to approve the accounts of the bank which announced, for 2017, a profit of 182 million dollars, against a loss of 39 million a year earlier. A performance that Emmanuel Ikazoboh, the Chairman of the Board of Directors, explains by “the decline in provisions in favor of the creation of the resolution vehicle and an acceleration of recovery”.
In addition, he says, “ETI adopted in 2017, a new accounting treatment, the method of highlighting. This allows it to record the undistributed profits of its subsidiaries according to its percentage of control.
In addition, the General Assembly will have to take note of the expiration of the mandate of Nigerian Bashir Ifo of EBID, Cameroonian Alain Nkoutchou, and Zambian Dolika Banda before reappointing them.
There are also three new faces on the board: Indian Monish Dutt, South African Brian Kennedy (Nedbank) and Irishman David O’Sullivan (QNB) announced for a three-year term. years.
Based in Lomé (Togo), Ecobank operates in 36 African countries, spread over four geographical areas.
