ECOBANK doubled its full-year earnings to December 2018 thanks to increased investments in fixed income securities, fee and commission income and net foreign exchange income.
Interest and similar income stood at US$53 million from US$37 million in FY17. Total net interest income stood at US$33,8 million.
Total net loans amounted to US$206 million from US$157 million in FY17.
Treasury Bills investment holdings increased to US$380 million from US$185 million.
From total assets US$1 billion from US$546 million in FY17 thanks to increased deposits and cash and cash equivalents.
Net profit for the period stood at US$40 million in FY18 from US$22,2 million. Return on equity stood at 36,75% while return on assets stood at 3,8%.
A US$6 million dividend was proposed in the interim period. — Staff Writer