Ecobank proposes bonus issue after pretax profit rises 144 per cent

Pan-African banking group Ecobank said on Monday its 2014 pretax profit rose 144 percent year-on-year to N86.44 billion ($434 million).

Revenue also rose to N489.25 billion from N411.18 billion the previous year, the bank said in a statement, and also proposed a bonus issue of one for every five shares.

The bank did not give a reason for the increase in earnings.