adminoperating expenses which increased by 35 percent.
As a result profit-after-tax for the half year improved by 112 percent to US$200 000 compared to a loss of US$1,5 million for the comparable period last year.
The bank attributed this to a number of factors including loan arrangement fees and interest income, trade finance income, increased fees and commissions, reduced loan losses and sustained cost containment. Ecobank’s total assets grew by 38 percent to US$80,4 million by the close of the period under review.
The bank attributed this increase to a 39 percent bump in customer deposits to US$63 million and a 69 percent increase in loans to customers up to US$62,4 million. Management says in the outlook period it will still focus on strengthening its capacities as a commercial bank.
“While these results are positive, continued focus is on the effective execution of the bank’s strategic plan.
“In 2012 improvement of overall financial performance on the back of a wider product range and better service quality remains the target,” said the bank in a statement.
Online Reporter
- Herald
- July 31, 2026
- 8 views
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