The CEO of the largest pan-African banking group, Ade Ayeyemi, can show a smile.
[1 dollar USD = 580.5 CFA Franc XOF]. The consolidated net profit of Ecobank Transcontinental Incorporated (ETI), the parent company of the Ecobank banking group, increased sharply by 281% at the end of the 2021 financial year compared to the same period of 2020, announced the leaders of this pan-African bank based in Lomé.
According to the unaudited consolidated financial statements, this profit amounted to 193.792 billion FCFA (333.7 million dollars) against 50.837 billion FCFA, a significant increase of 142.955 billion FCFA.
For its part, the total balance sheet of the bank increased by 14% to 15,787 billion FCFA (27 billion dollars) against 13,866 billion FCFA in 2020.
During the period under review, ETI granted its customers loans of 5553.049 billion FCFA against 4939.295 billion FCFA in 2020, an increase of 12%. For their part, customer deposits increased by 16% to 11,312 billion FCFA against 9,781 billion FCFA.
As for the net banking income, it is slightly down by 0.15%, from 966.891 billion FCFA on December 31, 2020 to 965.422 billion FCFA a year later.
On the other hand, pre-tax income increased sharply by 164% to 265.036 billion FCFA against 100.339 billion FCFA as of December 31, 2020.
As far as they are concerned, ETI’s equity increased by 14%, from 1,084 billion FCFA in 2020 to 1,233 billion FCFA as of December 31, 2021.
