The consolidated net banking income (NBI) of the Ecobank banking group increased by 4% in the first quarter of 2020 compared to the same period of 2019, announced the leaders of Ecobank Transnational Incorporated (ETI), the parent company of this banking institution based in Lomé, Togo.

This NBI increased from 224.240 billion FCFA on March 31, 2019 to 233.826 billion FCFA on March 31, 2020, an increase of 9.586 billion FCFA.

The total balance sheet of this banking group is also up by 9%, standing at 13,900.676 billion FCFA against 12,699.131 billion FCFA in 2019.

As for the bank's equity, it increased by 3% to 1088.545 billion FCFA against 1,054.568 billion FCFA as of March 31, 2019.

On the other hand, the result before tax is down by 9%, standing at 53.747 billion FCFA while it stood at 59.221 billion FCFA as of March 31, 2019.

The consolidated net result follows the same downward trend, going from 48.835 billion FCFA in 2019 to 40.187 billion FCFA in 2020 (-18%).

Looking ahead to the coming months, Ade Ayeyemi, CEO of Ecobank Group believes that “operating conditions will be extremely challenging as the duration and severity of COVID-19 in Africa remains uncertain”. While the G-20 has decided to freeze bilateral loan repayments for most African countries until the end of the year, the World Bank still predicts a recession for the African continent. “Thus, believes Mr. Ayeyemi, we are extremely cautious and taking adequate measures to guarantee the stability of the bank in order to continue to serve our customers efficiently and effectively now, and to be ready for a new post-COVID banking era. -19. »