The win reflects Ecobank’s unwavering commitment to meeting the specialised needs of SMEs across its diverse markets.
Browsing: Ecobank Group
The MOU was signed during the opening ceremony of the 30th Afreximbank Annual Meetings in Accra, Ghana.
The Annual General Meeting was held in Abidjan, Côte d’Ivoire on Wednesday amid shareholders’ support.
Akinwuntan will retire in January 2022, upon reaching the retirement age, a statement by the bank on Monday said.
Ade Ayeyemi, Chief Executive Officer, Ecobank Group, said: “At Ecobank we are fully committed to providing a range of initiatives that support the growth and success of Africa’s Small and Medium-sized Enterprises and create employment opportunities. This informed the credit facility that we have just secured from the EIB which we believe will deliver real impact in our joint mission to develop SMEs across Africa. The €100 million facility will support the recovery of African SMEs from the COVID-19 pandemic while also helping to provide them with the impetus to grasp the immense growth opportunities from the African Continental Free Trade Area vast single market. We thank the EIB for its focus and commitment to the continent.”
Ecobank beat a host of other banks in the African Banker Awards 2021 to take home the SME Award in a 2020 tumultuous year characterised by the COVID-19 pandemic, which continues to ravage many African economies, with Small and Medium Enterprises taking the greatest hit.
The pan-African bank recorded a Profit Before Tax of N40.3 billion, representing 22 per cent increase over the N33 billion reported at the same time in 2020.
In its audited report submitted to the Nigeria Stock Exchange on Tuesday, the pan-African bank also recorded superlative performance in other key financial indices despite the harsh operating environment during the period.
The fixed-rate, US dollar-denominated bond, with a tenor of five years, carries a coupon rate of 7.125 per cent and will be listed on the London Stock Exchange.
This represents a 7 per cent growth when compared to N586.9 posted in the corresponding period of 2019.
Ayeyemi made this assertion during an interview with the media.
In its audited report submitted to the Nigeria Stock Exchange on Friday, the pan African bank also recorded superlative performance in other key financial indices despite the harsh operating environment.
They expressed this view at a webinar to commemorate this year Ecobank Day.
The challenge, in its third edition, is designed to deepen collaboration between Ecobank and Fintechs with Africa-focused products.
Euromoney recognised Ecobank’s focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa.
The forum, taking place in March, will be a two-day event, providing the opportunity for exporters and importers within the African region to exhibit their products in a marketplace scenario with panel discussions by highly experienced and diversified stakeholders and leaders of thought in the industry.
O&O Networks Limited, a special purpose vehicle owned by the Ecobank Group, says contrary to certain media reports, there is no forfeiture order of the Federal High Court of Nigeria in its proceedings that is directed against Ecobank Transnational Incorporate or Ecobank Nigeria Limited.
Patrick Akin Akinwuntan, Managing Director and Regional Executive of Ecobank Nigeria, starts his new role on Wednesday (today).
Shareholders welcomed Ecobank’s return to profit for the year ended December 31, 2017 as they approved all the resolutions at the AGM, which included the ratification of the co-option of Monish Dutt, Brian Kennedy and David O’Sullivan as Directors.
The 14 banks in this report, controlling over 90 per cent of the Nigerian financial market, recorded N368.3 billion impairment losses for the Q3’17, representing an increase of 8.0 per cent from N341.1 billion in corresponding third quarter,Q3’16