Ecobank Transnational Incorporated (ETI) recorded net revenue of $ 2.01 billion, for the 2023 fiscal year,

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The parent company of Ecobank Ghana, Ecobank Transnational Incorporated (ETI) for the 2023 fiscal year, recorded net revenue of $ 2.01 billion.

This is the per bank Group’s audited financial statements for the year 2023.

This is the first time the bank’s net revenue has exceeded the $2bn mark since 2015. Profit-before-tax of ETI within the review period was $581m with profit-after-tax amounting to $407m.

Growth in the Group’s profit-before-tax was primarily due to revenue growth, outpacing expense growth, which resulted in positive operating leverage. As a result, the pre-provision, pre-tax operating profit (PPOP) reached $951 million in 2023.