Ecobank’s Half-Year Profit Up 16%

Posted by African Examiner Business News Thursday, July 31st, 2014

Ecobank, Thursday declared a half-year profit after tax of N31.62 billion at the Nigerian Stock Exchange (NSE). This is up 16 percent from the N27.52 billion posted same period last year.

Gross earnings rose to N225.261 billion compared to the N199.170 billion the pan-African lender posted in June last year.

But when compared to its December 2013 results, Ecobank’s half year to June pre-tax profit fell 7.63 percent to N32.67 billion ($201.83 million), from N35.37 billion recorded in December last year.

Ecobank gross earnings also dropped to 199.17 billion naira compared with 411.18 billion naira in the same period of last year.