Ecobank Group reports record results in 2012

28/03/2013
Ecobank Group reports record results in 2012

Ecobank, based in Togo,the leading pan-African banking group, today announced its results for the year ended December 31, 2012. They represent Ecobank's strongest financial performance in its 25 years of operation.

Financial Highlights:

* Revenues grew by 46 % to $1.8 billion (2011:$1.2 billion)

* Pre-tax profits rose by 25% to $348 million (2011:$277.4 million)

* Net income advanced by 39% to $286.7 million (2011:$206.8 million)

Thierry Tanoh (photo), Ecobank's Group CEO, commented:

"These very pleasing results reflect the successful integration of our two major acquisitions in Ghana and Nigeria, strong demand for retail banking services across our 33 country platform, increasing trade and commercial flows between Middle Africa and the rest of the world, together with the strong performance of our dedicated staff."

"We are closely focused on delivering cost efficiencies, whilst maintaining high levels of service and innovation. Overall, we are confident that 2013 will be another year of progress as we further strengthen and develop the Group to the benefit of all of our stakeholders."

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