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