Ecobank: a profit of 201 million USD recorded in 2020

At a virtual ordinary general meeting this Thursday, May 27, Ecobank shareholders validated the group’s 2020 results with an annual profit which amounted to 201 million USD, against 184 million USD in 2019. An increase of result that the pan-African bank based in Lomé owes to the acceleration of the use of technology during the year.

“The pandemic has accelerated the gradual migration of consumers to digital channels, which has transformed the way we work in many ways. Thanks to our technological investments over the years, we were prepared and made sure to provide our customers with permanent 24/7 access to their financial services requests, ”the bank said in a statement. The group’s net banking income increased by 4% to reach 1,680 million USD in 2020, according to the same source.

Note that all the resolutions presented to the Annual General Meeting were approved, including the renewal of the directorships of President Alain Nkontchou, Brian Kennedy and David O’Sullivan for a period of three years. The shareholders also ratified the co-option of Hervé Assah as director, for a three-year term. In addition, the mandate of the auditors, Deloitte Nigeria and Grant Thornton Côte d’Ivoire, was renewed for a period of six years subject to the modification of the articles of association of the company.


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