Ecobank Transnational Incorporated holds 33rd Annual General Meeting and shareholders approve resolutions

Ecobank Transnational Incorporated (“ETI”), parent company of the Ecobank Group, the leading pan-African bank present in 34 countries, today held its 33rd Annual General Meeting (AGM) and Extraordinary General Meeting online.

The President of the Ecobank Group, Mr. Alain Nkontchou, clarified: “I became President of the Ecobank Group in June 2020, when our world was already facing the Covid-19 pandemic. We have offered our support in many forms to customers, employees, communities, health authorities and governments. Thanks to our multiple distribution channels and our substantial investments in technology, we have been able to ensure flawless service continuity. We intend to grow our business and stay at the forefront of commerce, payments, remittances and financial inclusion by continually leveraging technology and smart partnerships. “

Ade Ayeyemi, Managing Director of Ecobank Group, stressed: “We have invested and focused on a ‘Build Back Better’ strategy to position ourselves for long term growth and sustainability. We will continue with our ‘Momentum in Execution’ program to use these investments to increase revenue, and generate long-term growth as well as a return on capital for the business and its shareholders ”.

The shareholders praised the progress of the Group in 2020 and the way in which it has been able to face the difficulties of the current situation. The annual profit of ETI, the parent company, was $ 201 million, up from $ 184 million in 2019. Group net banking income increased 4% to $ 1,680 million. 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 technology investments over the years, we were prepared and made sure to provide our clients with 24/7 access to their financial services requests. For example, our call centers remained open, and Rafiki, our artificial intelligence (AI) virtual chatbot-assistant, took over routine banking services. Our full range of banking services remained available on all of our digital platforms: mobile, online, Omni Plus and Omni Lite.

All the resolutions presented to the AGM were approved, including the renewal of the directorships of Messrs. Alain Nkontchou, Brian Kennedy and David O’Sullivan for a period of three years.

The shareholders also ratified the co-option of Mr. Hervé Assah, as a director, for a three-year term ending on the third anniversary of his co-option as a director.

The mandate of the auditors, Deloitte Nigeria and Grant Thornton, Côte d’Ivoire, for a period of six years, was renewed, subject to the modification of the articles of association of the company.

The Annual General Meeting was followed by an Extraordinary General Meeting in which the shareholders voted to amend the relevant section of the company’s articles of association to reflect the appointment of the auditors by the company at the Meeting. General.

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