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Ecobank Transnational Declares N254.4 billion in Gross Earnings After Nine Months

By Afolabi Ogunde on October 25, 2012

ETI

Ecobank Transnational declared gross earnings of N254.4 billion in its 3Q, 2012 earnings.

This result represented a 63% year-on-year improvement over the N155.9 billion it made in 2011.

Provision for doubtful debts soared 8.8% to N13.5 billion from N12.43 billion over the same period last year.

Profit before tax was N30.5 billion, up 11% from N27.5 billion made during 3Q, 2011.

Net income arrived at N24.1 billion, up 26.1% from N19.1 billion from the corresponding period in the preceding year.

ETI’s share price closed at N12.1, up 15% from the onset of the year.