Ecobank Group’s revenue rises 7% to N630bn in 2020

The transaction is the first non-sovereign bond from Africa in 2021 and is milestone capital raise for the banking sector in Nigeria

Ecobank Group has recorded a revenue of over N630 billion for the year ended December 31, 2020. This represents a 7 percent growth when compared to N586.9 posted in the corresponding period of 2019.

In its unaudited report submitted to the Nigeria Stock Exchange (NSE) on Friday, the pan-African bank stated that value of its total assets now stands at N10.2 trillion after a 19 percent rise.

The bank also recorded superlative performance in other key financial indices despite the harsh operating environment.

Summary of the report showed that deposits from customers went up 23 percent to N7.3 trillion; total equity up 17 percent to N805.1 billion; while loans and advances to customers grew by 9 percent to N3.7 trillion.

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Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.