Ecobank Transnational Incorporated has published the results of its activities to September 2021. According to Ade Ayeyemi, Group Chief Executive, the results are solid and reflect the diligence that Ecobankers put in every day to help customers and meet their financial needs.

As of September 2021, Ecobank Group achieved pre-tax income of $352 million, an increase of 41% over the previous year. Revenue was $1.3 billion, up 4%. Hence the return on tangible equity increased to 17.9%, and the value per share of equity rose by 11%.

“These results also demonstrate the hard work invested in increasing operational efficiency across all of our businesses with the aim of further reducing our cost/income ratio, improving the quality of our portfolio, strengthening the Group's liquidity and capital. . The result is a constant improvement in the cost/income ratio each quarter, which now stands at 58.3%. Additionally, the bad debt ratio decreased to 6.9% from 9.9% a year ago. We are proactively making provisions for these bad debts, which currently represent 91.2% of these bad debts, close to our short-term objective of 100%. We strengthened the company's liquidity profile, driven by growth in customer deposits fueled by accelerating adoption of the digital channel, partnerships with fintechs, telecoms, and companies in the payments ecosystem “, detailed Ayeyemi. He reassures that the group continues to invest in new digital and mobile capabilities to improve the customer experience, in order to strengthen the sustainability of the Group and continue to offer the best services.