Ecobank Transnational Incorporated (ETI) has reported a staggering profit after tax of N311 billion ($196 million) for the first half of 2024, showcasing an impressive 196-percent increase compared to the N105 billion ($66 million) recorded in the same period last year.
This exceptional growth showcases Ecobank's financial health and positioning within the African banking sector.
The bank's revenue for the first half of 2024 surged by 186 percent to N1.36 trillion ($85 billion), up from N475.65 billion ($299 million) in H1 2023 . This increase was fueled by higher interest income and a rise in non-interest revenue, reflecting the bank's diversified income streams and effective risk management.
Ecobank's operating profit before impairment charges saw a remarkable 215-percent jump, reaching N631.5 billion ($397 million) compared to N200.77 billion ($126 million) in the previous year.
