Ecobank Ghana Records Growth

Samuel Ashitey Adjei, Ecobank MD

Samuel Ashitey Adjei, Ecobank MD

Samuel Ashitey Adjei, Ecobank MD
Ecobank Ghana posted a 44 percent growth in profit-before-tax for the 2013 financial year with 37 percent growth in total assets and also 32 percent growth in deposits.

The pan-African bank also recorded 52 percent growth in loans, while its revenue growth shot up to 40 percent.

While cost income ratio recorded 45.3 percent, return on average equity was 37 percent.

The Managing Director of Ecobank Ghana, Samuel Ashitey Adjei, who disclosed this, expressed appreciation to the customers, especially for reposing confidence in the bank.

He said over the last 12 months (from 1 st March 2013 to 28 th February 2014) Ecobank Ghana’s share price increased by 111 percent, adding that its loan book of GH¢2.1 billion was the largest in the banking sector by far.

Mr Adjei explained that ‘profitability and growth sustainability is not only a vision, but hugely resultant of excellent management disciplines, and unrelenting focus on execution, consistent management of risks, competitive product sets and outstanding customer service.’

Ecobank Ghana continues to promote private sector participation in the development of renewable energy, energy efficiency and clean technology products. Internally, low carbon footprints practice aimed at reducing electricity consumption and paper usage is being encouraged across the bank’s branches, further demonstrating its commitment to improved environmental performance and sustainability.

The bank is signatory to the UN Charter Compact, a strategic policy initiative for  businesses that are committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labour, environment and anti-corruption.

Additionally, its low carbon banking operation has informed the design and implementation of a carbon footprint total score card for collation of monthly data on energy, travel and paper usage as a measure for determining savings in carbon footprint.

Key initiatives for carbon footprint management include solar lightening signage and solar-powered ATMs.

A business desk report

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