Ecobank has no plan to exit any country

Ecobank Transnational Incorporated has said that it has no immediate plan to close shop in any of the countries in which it operates.

In a statement signed by Richard Uku Group Head, Corporate Communications and Spokesperson for the Group, the bank stated that “Ecobank is currently reviewing its business model to ensure that it deploys products that are profitable in the countries where it operates. In so doing, we may decide to exit certain products from some markets, and may also close one or more branches in some countries in favour of technology.”

The bank further stated that: “The closure of any Ecobank subsidiary would require a thorough situation analysis and approval by the Board of Directors and shareholders of Ecobank, and no such closures are envisaged at this time.”

“This does not in any way translate to the planned closure of any of our subsidiaries,” the statement concludes.