Ecobank Ghana PLC has approved a dividend of GH₵ 0.34 per share for all eligible shareholders of the bank.
The bank ended 2024 posting a revenue of GH₵5.4 billion while’s profit before tax hit GH₵2.4 billion indicating 139.3% increase year-on-year.
According to the Board Chairman of the bank, Samuel Ashitey Adjei, the stellar performance is as a result of sustainability measures and cost savings initiatives.
“Our strong financial position, coupled with a clear strategic direction has ensured that we continue to weather the storms of a volatile economic landscape. Our robust risk management practices, sound capital management and diversified revenue streams have fortified the bank, giving us the confidence to not only survive but thrive”, he said.
Total assets grew by 36.7% to reach GH¢46.0 billion while the bank’s overall capital adequacy ratio stood at 17.03% against a regulatory minimum requirement of 10% at the end of 2024.
According to the bank, its operational measures remained resilient with a cost to income ratio of 36.8%. Its customer deposits surged by 23.2% year on year to hit GH₵32.5 billion within the period.
Mr. Adjei also noted that returns on average equity and assets stood at 38.0% and 4.3% respectively indicating an improvement in value delivered to shareholders despite a challenging economic environment.
On technology, Mr. Adjei stated that the bank has positioned itself strongly in an increasingly competitive environment by improving online banking platforms to enhancing customer experiences through artificial intelligence and data analytics.
“Our commitment is evident in the ongoing replacement of all obsolete ATMs with advanced models that offer customers greater convenience, including denomination selection and user-friendly interfaces with higher transactional limits’, he said.
Managing Director of the bank, Abena Osei-Poku indicated that with the recovery of the economy the bank is hoping to deliver strong results and growth in 2025.
“We remain committed to capitalizing on emerging opportunities to enable us to sustain our momentum and build a resilient, future-ready organization,” she said.
The bank invested approximately GH₵2.2 million in four educational institutions as part of its Corporate Social Responsibility.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.