{"id":76588,"date":"2019-04-09T09:41:56","date_gmt":"2019-04-09T07:41:56","guid":{"rendered":"http:\/\/www.times.mw\/?p=76588"},"modified":"2019-04-09T09:41:56","modified_gmt":"2019-04-09T07:41:56","slug":"ecobank-profit-up-30-percent","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2019\/04\/09\/ecobank-profit-up-30-percent\/","title":{"rendered":"Ecobank profit up 30 percent"},"content":{"rendered":"<p><strong><em>By Sharon Chirwa:<\/em><\/strong><\/p>\n<p><a href=\"http:\/\/www.times.mw\/wp-content\/uploads\/2017\/03\/Charles-Asiedu.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-43028\" src=\"http:\/\/www.times.mw\/wp-content\/uploads\/2017\/03\/Charles-Asiedu-284x300.jpg\" alt=\"\" width=\"284\" height=\"300\" srcset=\"https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/03\/Charles-Asiedu-284x300.jpg 284w, https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/03\/Charles-Asiedu.jpg 345w\" sizes=\"auto, (max-width: 284px) 100vw, 284px\" \/><\/a>One of the country\u2019s commercial banks, Ecobank, has recorded a 30 percent post-tax profit growth to K5 billion in the year ending December 31 2018.<\/p>\n<p>A statement of financial results for the period shows that profit before tax for the bank went up by 31 percent to K7.2 billion.<\/p>\n<blockquote><p><em>\u201cThe bank registered its growth trajectory in 2018 by posting a robust performance despite significant headwinds from the economy,\u201d<\/em> reads the statement jointly signed by Ecobank Managing Director and Chairman, Charles Asiedu and Leonnard Chikadya, respectively.<\/p><\/blockquote>\n<p>The bank\u2019s total assets grew by 52 percent to K261 billion due to a 41 percent increase in customer deposits, which grew to K126 billion.<\/p>\n<p>This is also attributed to an over 180 percent increase in medium-term borrowed funds to K47 billion.<\/p>\n<p>The pan African bank saw its loan book growing by 15 percent to K38 billion during the year under review.<\/p>\n<p>Looking forward, the bank says it would continue driving to improve customer experience through convenient and cost effective channels.<\/p>\n<blockquote><p><em>\u201cIn this respect, we will re-focus on developing our digital platform whilst making our branches more effective.<\/em><\/p>\n<p><em>\u201cWe are cautiously optimistic about the future and we continue to make the appropriate investments to bring more value to our customers and other stakeholders,\u201d<\/em> reads the statement.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>By Sharon Chirwa: One of the country\u2019s commercial banks, Ecobank, has recorded a 30 percent post-tax profit growth to K5 billion in the year ending December 31 2018. A statement of financial results for the period shows that profit before tax for the bank went up by 31 percent to K7.2 billion. \u201cThe bank registered [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":76591,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-76588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/76588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=76588"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/76588\/revisions"}],"predecessor-version":[{"id":76592,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/76588\/revisions\/76592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/76591"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=76588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=76588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=76588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}