admin10 percent jump on the loan book this year.
The group’s chief executive, Mr Thierry Tanoh, told delegates at the bank’s inaugural capital markets day in Togo last week that Ecobank also planned to achieve revenue growth of at least 15 percent this year.
Mr Tanoh said the bank targeted a cost-to-income ratio of below low 70 percent and reducing the cost-to-income ratio to 60 percent for 2015. Zimbabwe, as an associate of the pan-African bank, will have to align itself along these targets.
“We believe passionately in Africa’s long-term growth potential and, over time, look forward to unlocking the true value of our unique pan-African footprint to the benefit of all of our stakeholders,” he said.
The bank held the Capital Markets Day at the Group’s headquarters in Lomé on January 18. The event aimed to introduce Ecobank’s senior management to audiences of major shareholders and research analysts.
In addition, the event also provided detailed insights into the group’s current operations and its strategic objectives going forward.
Said Mr Tanoh: “We were delighted to welcome buy- and sell-side representatives from across Africa, the UK, the Middle East and the US here in Lomé, Togo. It gave us an excellent opportunity to demonstrate the strength and depth of our divisional and regional management teams to a wider international audience.”
Ecobank used the event to outline its growth targets for 2013 and the operational steps that are being taken to deliver them. By focusing on its strategic priorities of customer service, shareholder value and becoming an employer of choice, Ecobank believes these targets are achievable.
The bank remains focused and continues on a firm path as it trudges towards its mission of building a world-class pan-African bank.
Addressing a Press conference soon after arriving in Zimbabwe on Wednesday last week, Mr Tanoh said Ecobank Zimbabwe, which had been indigenised and would “continue to be compliant with the country’s laws”, was on a growth trajectory.
The bank, which closed its trading year with nine branches last year, would increase its presence on the local market, he said.
“Market share will be increased in Zimbabwe this year. We are young but very ambitious. As we speak, if a tremendous opportunity comes by, we’ll grab it right away to add value to the group,” Mr Tanoh was quoted as saying in the media.
“We have complied with the new capital requirements. We have ambitions to grow and gain market share in Zimbabwe,” said Mr Tanoh.
In a statement, Ecobank Zimbabwe said Tanoh’s first visit to the region and Zimbabwe was a reflection of a vote of confidence by the Ecobank Group in the Zimbabwean market.
Ecobank shareholders recently injected an additional US$15 million into Ecobank Zimbabwe in order to meet the deadline for compliance with the additional capital requirements of US$25million by December 31, 2012 as set out by the central bank.
Online Reporter