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Ecobank Group Performance: 24% improvement in pre-tax profit in the first half of 2022

27/07/2022
Categories: Companies

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In a press release dated Tuesday, July 26, Ecobank Group announced that it had experienced "a strong performance in the first half of 2022" equivalent to an unaudited pre-tax profit up by 24% to USD 261 million.

According to the statement, Ecobank Group's net income rose by 10% to USD. These results testify to the group's "resilience" despite inflation in its operating environment, the weakening of African currencies as well as the decline in economic growth. For Ade Ayeyemi, Group CEO, the prowess in the first half of 2022 "reflects the benefits of diversification" of the "operating model" and its "regions". As a result, the Ecobank Group, through its pan-African network, has won nearly 20 awards from highly respected media organizations and companies in the industry. A few days ago, Euromoney voted Ecobank, Best Bank in Africa, Best Digital Bank in Africa and Best SME Bank in Africa at its 2022 awards ceremony. Ade Ayeyemi said he was "extremely proud" of his "fellow Ecobankers", and took the opportunity to "thank them for their outstanding work and commitment".

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