Showing posts with the label ecobank

Ecobank grows earnings to N1.21tn

 Ecobank grows earnings to N1.21tn By September 2023, Ecobank Group's gross earnings had increased to N1.21tn from N761.29bn at the end of September 2022, a 59% increase  This was mentioned in the Audited Consolidated Financial Statements for the quarter ending September 30, 2023, which were submitted on Thursday to the Nigerian Exchange Limited. Due to an external audit of its Q3 financial results, Ecobank had to postpone filing its financial reports. The Board and Management of Ecobank Transnational Incorporated announced their decision to conduct an audit of the Ecobank Group's third-quarter financial results in 2023 in the notice of delay that was submitted with the NGX. The banking institution stated in its Q3 results, which were released in US dollars and Nigerian Naira, that although its total earnings increased in Naira, they decreased by 15% to $2.084 billion in US dollars. Operational income, or revenue, increased by 12% to $1.518 billion and by 55% to N884 billion. T