Ecobank Group’s quarterly profit rises 23% to N30.5bn
Ecobank Group has posted an increase of 23 percent in its profit after tax for the first quarter of 2021,
Ecobank Group has posted an increase of 23 percent in its profit after tax for the first quarter of 2021, compared to the same period in 2020.
The pan-African financial institution said its after-tax profit rose to N30.5 billion in Q1 2021 from N24.69 billion (up 12 percent to $75.8 million).
Its profit before tax increased by 22 percent to N40.3 billion (up 11 percent to $100.3 million) as gross earnings were up 10 percent to N214.3 billion (stable at $532.8 million).
Loans and advances to customers fell by one percent to N3.64 trillion (down three percent to $8.9 billion) while deposits from customers rose by one percent to N7.38 trillion (down one percent to $18.1 billion).
