Ecobank Group Reports Record Results in 2012

28 March 2013
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Ecobank (Lome)
press release

Lomé — $1.8 billion revenue; $348 million profits

Ecobank, the leading pan-African banking group, today announced its results for the year ended December 31, 2012. They represent Ecobank's strongest financial performance in its 25-year of operation.

Financial Highlights:

  • Revenues grew by 46 % to $1.8 billion (2011: $1.2 billion)
  • Pre-tax profits rose by 25% to $348 million (2011:$277.4 million)
  • Net income advanced by 39% to $286.7 million (2011: $206.8 million)

Thierry Tanoh, Ecobank's Group CEO, commented:

"These very pleasing results reflect the successful integration of our two major acquisitions in Ghana and Nigeria, strong demand for retail banking services across our 33 country platform, increasing trade and commercial flows between Middle Africa and the rest of the world together with a strong performance of our dedicated staff"

"We are closely focused on delivering cost efficiencies, whilst maintaining high levels of service and innovation. Overall, we are confident that 2013 will be another year of progress as we further strengthen and develop the Group to the benefit of all of our stakeholders."

Laurence do Rego, Ecobank's Group Executive Director, Finance and Risk, added:

"Ecobank is strategically positioned to capture much of Africa's organic growth, whilst our diversified business model is designed to mitigate risk. We are now focused on maximizing the returns from our unique platform via a centralized approach to cost and risk management."

Investor Relations:
James Etherington: jetherington@ecobank.com, Ato Arku: aarku@ecobank.com, Tel: +44 20 3582 8803

Media Relations:
Nabi Souleymane Ouedraogo: nouedraogo@ecobank.com, Tel: +228 22 21 03 03

About Ecobank Group

Incorporated in Lomé, Togo, Ecobank Transnational Incorporated is the parent company of the leading independent pan-African banking group. It currently has a presence in 32 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d'Ivoire, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, Tanzania, Togo, Uganda, Zambia, Zimbabwe.

The Group is also represented in France through its affiliate EBI S.A. in Paris. ETI also has representative office in Dubai, United Arab Emirates and London, UK. ETI is listed on the stock exchanges in Lagos, Accra and the West African Economic and Monetary Union (UEMOA) – the BRVM in Abidjan. The Group has more than 600,000 local and international institutional and individual shareholders.

The Group has 18,375 employees in 35 countries and 1,206 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Additional information may be found at www.ecobank.com

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