Ecobank maintains consistent growth
Shareholders of Ecobank Ghana are to enjoy a dividend of GH¢0.84 per share on the back of strong performance posted by the bank in 2015.
Advertisement
The 2015 dividend, announced at the annual general meeting in Accra is higher than the 2014 figure of GH¢0.79 per share.
The Managing Director of Ecobank Ghana, Mr Samuel Ashietey Adjei told shareholders that the bank has maintained consistent growth on yearly basis in all its key financial indicators, hence the upward review of dividend for shareholders.
“On the bank of this performance, we propose a dividend of GH¢0.84 per share, up from GH¢0.79 per share declared last year and we thank you for entrusting us with your investments in the year 2015,” he said.
The bank recorded revenue in excess of GH¢ one billion in 2015, representing a growth of 19 per cent over the 2014 revenue of GH¢858 million.
“The increase was primarily driven by net interest income. It is important to note that this is the first time a bank in Ghana has earned revenue in excess of one billion Cedis,” he said.
Bank’s performance in 2015
Ecobank Ghana ended 2015 with a post-tax profit of GH¢321 million. Its balance sheet also grew by 16 per cent to GH¢6.7 billion in 2015 compared to GH¢5.8 billion in 2014.
“Loans and advances to customers was GH¢3.1 billion – a growth of 15 per cent from the prior period. Our loan portfolio reflects risk diversification across all business units. Our total customer deposits grew to GH¢4.8 billion, an increase of 14 per cent, reflecting increased customer business,” Mr Adjei said.
Other Trending Stories
Total equity of the bank stood at GH¢890 million, up 11 per cent, from the previous year.
He said Ecobank Ghana’s credit ratings were affirmed at AA- (GH) and A+ (GH) by the Global Credit Rating Company.
“The ratings are valid till December 2016 and reflect resilient profitability, adequate loan loss reserves and a conservative risk appetite,” he said.