New Telegraph

Shareholders commend ETI’s 2021 performance

Shareholders of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group have applauded the Group’s impressively strong performance in 2021, which was achieved despite the challenging environment. The Group’s profit for the year was $357 million compared with $88 million in 2020, although the latter was adversely affected by a goodwill impairment charge of $164 million.

The Group’s net revenues increased by 4.6 per cent to $1,757 million. The shareholders approved all the resolutions presented at the lender’s 34th Annual General Meeting (AGM) held in Abidjan, Côte d’ Ivoire on Wednesday. Alain Nkontchou, Chairman Ecobank Group said: “2021 was a transformational year for the Group and the Board is pleased to be rewarding shareholders with a dividend for the first time since 2016.

“Our results show that we are maximising operational efficiencies and successfully transforming our business for sustainable long-term growth. “As we continue to deliver on our strategic imperatives, we are firmly positioned as the ideal partner for households and businesses to grow and succeed, and to foster Africa’s economic development, while continuing to grow our revenues and value.”

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