ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

2020 audited results: Ecobank Group posts N641.8 billion revenue

by Usman Kadri
March 23, 2021
Reading Time: 1 min read
2020 audited results: Ecobank Group posts N641.8 billion revenue
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

Ecobank Group has recorded a revenue of N641.8 billion for the year ended December 31, 2020, representing nine per cent increase compared with N586.9 posted in the corresponding period of 2019.

In its audited report submitted to the Nigeria Stock Exchange (NSE) on Tuesday, the pan-African bank also recorded superlative performance in other key financial indices despite the harsh operating environment during the period.

Summary of the report showed that gross earnings was stable at N841.1 billion from N842.5 in 2019. The operating income before impairment losses increased by 20 per cent, from N198.6 billion to N239.1 billion during the year under review.

RELATED STORIES

Alleged $101m debt: Absence of Orjiakor’s Lawyer, stalls hearing on Access Bank’s bankruptcy suit

Access Bank demonstrates leadership at Climate Governance Initiative launch

July 1, 2025
Dangote crashes petrol ex-depot price to N840 as more marketers join partnership deal

Dangote crashes petrol ex-depot price to N840 as more marketers join partnership deal

July 1, 2025

Also, Total asset of the bank nudged up to N10.4 trillion in the year ended from N8.6 trillion in the corresponding year of 2019, representing 20 percent increase. “This is a reflection of the power of our panAfrican diversified one-bank business model” says Ade Ayeyemi, Ecobank Group CEO.

Ayeyemi further said: “2020 was a year which tested the resilience of the human spirit in rising to the many challenges as governments, businesses and households’ unrelentingly strove to keep citizens, clients and loved ones safe. I am proud of Ecobankers’ hard work and continued service to our customers and the support we provide to the communities we serve.”

Other results of the bank shows profit before goodwill impairment went down by 12 percent to N129.1 billion as against N 146.5 billion recorded in the corresponding period of 2019. The bank recorded Profit before tax of N66.6 billion as against N146.5 billion reported in 2019. While Profit after tax closed at N33.7 billion during the year under review.

Tags: ecobankecobank ghanaecobank in ghanaecobank internet bankingecobank nigeriaecobank of ghanaecobank onlineecobank online bankinginternet banking ecobankonline banking ecobank
Next Post
Months after invitation controversy, El-Rufai hosts NBA leadership

Months after invitation controversy, El-Rufai hosts NBA leadership

More Articles...

Alleged $101m debt: Absence of Orjiakor’s Lawyer, stalls hearing on Access Bank’s bankruptcy suit

Access Bank demonstrates leadership at Climate Governance Initiative launch

July 1, 2025
Dangote crashes petrol ex-depot price to N840 as more marketers join partnership deal

Dangote crashes petrol ex-depot price to N840 as more marketers join partnership deal

July 1, 2025
FirstBank unveils advanced Facial Biometric Technology on FirstMobile for seamless user enrollment and device activation

FirstBank unveils advanced Facial Biometric Technology on FirstMobile for seamless user enrollment and device activation

July 1, 2025
Ojude Oba 2025 garners over 124m global media impressions, says P+ Measurement report

Ojude Oba 2025 garners over 124m global media impressions, says P+ Measurement report

July 1, 2025
Ecobank Nigeria unveils new Premier Branch on Victoria Island, Lagos

Ecobank launches InnovateX Youth Competition to empower Africa’s next generation of creators and tech entrepreneurs

July 1, 2025
Stanbic IBTC Bank Nigeria PMI: Output growth slows but business confidence rises sharply

Stanbic IBTC Bank Nigeria PMI: Output growth slows but business confidence rises sharply

July 1, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport