DOCSLIB.ORG

2009 Eco Bank Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2009 Eco Bank Report ECOBANK NIGERIA PLC RC 89773 ANNUAL REPORT 2009 Ecobank Nigeria Plc Plot 21, Ahmadu Bello Way - P.o. Box 72688 Victoria Island - Lagos - Nigeria Phone: (+234) 1 2710391-5 Fax: (234) 1 271 0111 Email: [email protected] – www.ecobank.com PARENT COMPANY AND AFFILIATES GROUP OFFICE (ECOBANK TRANSNATIONAL INCORPORATED): 2, Avenue Sylvanus Olympio - BP 3261 - Lome (TOGO) - Phone: (228) 221 0303/221 31 68 - Fax: (228) 221 51 19 BENIN GUINEA TANZANIA Rue du Gouverneur Bayol Immeuble Al lman Plot No. 502/157 & 971/157 Uhuru Street, 01 B.P. 1280 - Cotonou - BÉNIN Avenue de la République Mnazi Mmoja Central Area, Dar es Salaam TANZANIA Phone: (229) 21 31 3069/21 31 4023 B.P 5687 - Conakry - GUINEE Phone: (255) 222 668 365 Fax: (229) 21 31 33 85 Phone: (224) 30 45 57 77 Fax: (255) 222 667 220 (224) 30 45 57 76 BURKINA-FASO Fax: (224) 30 45 42 41 TOGO 633, Rue IIboudo Waogyandé 20, Avenue Sylvanus Olympio 01 B.P 145 - Ouagadougou 01 BURKINA-FASO GUINEA BISSAU B.P 3302 - Lomé - TOGO Phone: (226) 50 328 328 Avenue Amilcar Cabral . Phone: (228) 221 72 14 Fax: (226) 50 318 981 B.P 126 - Bissau - GUINÉE BISSAU Fax: (228) 221 42 37 Phone: (245) 320 73 60/61 BURUNDI Fax: (245) 320 73 63 UGANDA 6, rue de la Science Plot 4, Parliament Avenue B.P 270 -Bujumbura - BURUNDI KENYA P.O. Box 7368 - Kampala UGANDA Phone: (257) 22 22 63 51 Fedha Towers - PO. Box 49584 Phone: (256) 417 700 100/102 Fax: (257) 22 22 54 37 Code 00100 Nairobi - KENYA Fax: (256) 312 266 079 Phone: (254) 20 288 30 00 ZAMBIA CAMEROON Fax: (254) 20 288 33 04 / 288 38 15 22768 Thabo Mbeki Road Boulevard de la liberté P.O.Box 30705 - Lusaka - ZAMBIA B.P 582 - Douala - CAMEROUN LIBERIA Phone: (260) 211 250 056-7 Phone: (237) 33 43 82 51-53 Ashmun & Randall Street - PO. Box 4825 (260) 211 250 202-4 (237) 33 43 84 88 / 89 1000 Monrovia 10 - LIBERIA Fax: (260) 211 250 171 Fax: (237) 33 43 86 09 Phone: (231) 727 72 77 / 697 44 94-6 Fax: (231) 701 22 90 EBI S.A. FRANCE CENTRAL AFRICAN REPUBLIC émé Tour Atlantique 1, Place de la Pyramide, 12 Etage Place de la République -B.P 910 MALAWI 92911 Paris la Défense Cedex FRANCE Bangui - RÉPUBLIQUE CENTRAFRICAINE Loita House Phone: (33) (0)1 55 23 23 40 Phone: (236) 21 61 0042 Corner Victoria Avenue & Henderson Street, Fax: (33) (0) 1 47 76 42 41 Fax: (236) 21 61 61 36 Private Bag 389, Chichiri Blantyre 3 - MALAWI Phone: (265) 01 822 808 / 099 ECOBANK DEVELOPMENT CORPORATION (EDC) CHAD Fax: (265) 01 822 683 / 820 583 2, Avenue Sylvanus Olympio Avenue Charles de Gaulle - B.P 87 BP 3261 Lome - TOGO N'Djamena - TCHAD MALI Phone: (233) 21 251723 Phone: (235) 252 43 14/2524321 Place de la Nation Fax: (233) 21 25 17 34 Fax: (235) 253 23 45 Quartier du Fleuve - B.PE. 1272 Bamako - MALI Phone: (223) 20 70 06 00 EDC INVESTMENT CORPORATION CONGO (BRAZZAVILLE) Fax: (223) 20 23 33 05 Immeuble Alliance, 4émé Etage Rond point de la coupole B.P 2485 Avenue Terrasson de Fougéres Brazzaville - CONGO NIGER 01 B.P 4107 - Abidjan 01 - COTE D'IVOIRE Phone: (242) 621 09 09/622 01 01 Angle Boulevard de la liberté et Phone: (225) 20 21 10 44 / 20 31 92 24 (242) 569 54 54 Rue des Batisseurs - B.P. 13804 Niamey - NIGER Fax: (225) 20 21 10 46 Phone: (227) 20 73 71 81-83 CONGO (DEMOCRATIC REPUBLIC OF) Fax: (227) 20 73 72 03-04 EDC STOCKBROKERS LIMITED Immeuble Future Tower S, Second Ridge link, North Ridge 3642 Blvd du 30 juin - B.P. 7515 NIGERIA P.O.Box 16746 - Accra North GHANA Plot 21, Ahmadu Bello Way Kinshasa - Gombe - RD CONGO Phone: (233) 21 25 17 23 / 24 P.O. Box 72688 Victoria Island - Lagos - NIGERIA Phone: (243) 99 60 16 000 Fax: (233) 21 25 17 20 Phone: (234) 1 2710391-95 Fax: (243) 99 60 17 070 Fax: (234) 1 2710111 EDC SECURITIES LIMITED Plot 21, Ahmadu Bello Way COTE D'IVOIRE RWANDA P. O. Box 72688 - Victoria Island Lagos - NIGERIA Immeuble Alliance , Plot 314, Avenue de la Paix Phone: (234) 1 7 61 38 33/761 3703 Avenue Terrasson de Fougeres 01 B.P 4107 P.O. Box 3268 - Kigali - RWANDA Fax: (234) 1 2 71 48 60 Abidjan 01 COTE D'IVOIRE Phone: (250) 503580-8 Phone: (225) 20 31 92 00 Fax: (250) 501319-20/571633 ECOBANK ASSET MANAGEMENT (EAM) (225) 20 21 10 41 Immeuble Alliance, 4émé Etage Fax: (225) 20 21 88 16 SAO TOME E PRINCIPE Avenue Terrassons de Fougères Edificio HB, Travessa do Pelourinho C.P. 316 - São Tomé 01 B.P 4107 - Abidjan 01 - COTE D'IVOIRE GABON DEMOCRATIC REPUBLIC OF SÃO TOME E PRINCIPE Tel: (225) 20 22 26 68 214, Avenue BOUET-9 ETAGES Phone: (239) 22 21 41/22 50 02 Fax: (225) 20 21 1046 BP: 12111 Libreville - Gabon Fax: (239) 22 26 72 Phone: (241)44 21 75 ECV SERVICOS FINANCEIROS - CAPE VERDE Agencia de' cambios Fax: (241) 44 21 76 SENEGAL 43A Avenida Amilcar Cabral Praia Santiago - CABO VERDE 8, Avenue Léopold Sédar Senghor Phone: (238) 261 7849 GAMBIA B.P. 9095.- Centre Douanes (CD) Dakar - SÉNÉGAL Fax: (238) 261 78 60 42'Kairaba Avenue - P.O. Box 3466 Phone: (221) 33 849 20 00 Serrekunda - THE GAMBIA Fax: (221) 33 823 47 07 Phone: (220) 43 9 90 31-33 EPROCESS INTERNATIONAL SA Fax: (220) 43 9 90 34 20, Avenue Sylvanus Olympio B.P 4385 - Lomé - TOGO SIERRA LEONE Phone: (228) 222 23 70 7, Lightfoot Boston Street GHANA Fax: (228) 222 24 34 P.O. Box 1007 Freetown - SIERRA LEONE 19th, Seventh Avenue Ridge West Ghana Office: Phone: (232) 22 221 704 /227801 O P.O. Box 16746 - Accra North Ridge, GHANA N . 556/4 Cola Avenue, Kokomleme Accra - GHANA Fax: (232) 22 290 450 Phone: (233) 21 68 11 66/67 Phone: (233) 21 213 999 Fax: (233) 21 68 04 28 Fax: (233) 21 234 457 1. 2009 ANNUAL REPORT ANAMBRA Maiduguri Sir Kashim Ibrahim way Sapele-Amikpe Phone: (234) 806 293 6945; (234) 812 637 4457; 129, Sapele/warri Road, Ajagodo, Sapele. Awka (234) 704 145 0856 Phone: (234) 0808 718 0235; (234) 0802 923 Abuja Estate, Opp Anambra State Government 3235; (234) 0709 201 9307 House, Onitsha-Enugu Expressway, Awka Maiduguri Aladja DSC Phone: (234) 808 718 0309; (234) 806 040 8548; No2, Kirikasanma Rd, adjacent CBN, Maiduguri Delta Steel Company Complex BUSINESS OUTLETS (234) 48 290 323 Phone: (234) 704 145 0856; (234) 704 145 0878 Phone: (234) 803 757 3473 ; (234) 704 145 0503 27 New Market Road, Onitsha BAYELSA HEAD OFFICE: Eku House Phone: (234) 808 718 0355 6, Effurun/Sapele Road, Warri. Plot 21, Ahmadu Bello Way, P. O. Box 72688, Victoria Island, Lagos NIGERIA Yenogoa 1 Phone: (234) 704 1450 504; (234) 704 145 0073 Phone: (+234) 1 2710391-5 - Fax: (234) 1 2702076 - E-mail: [email protected] Fegge 106, Mbiama Yenagoa Road, Ovom No. 33/35 Uga Street, Fegge, Onitsha Phone: (234) 802 052 3578; (234) 808 895 2112 Phone:(234) 808 583 9651;(234) 46 280 477 EBONYI Yenagoa II Nkpor Abakaliki II ABIA ABUJA Wuse II 204B Mbiama Yenagoa Road, Amarata 42 New Market Road, Nkpor 13 Ogoja Road, Abakaliki Plot 212A Adetokunbo Ademola Crescent, Wuse II Phone: (234) 708 645 8032, (234) 808 870 3695 Phone: (234) 704 145 0341-3 Phone: (234) 803 779 5298; (234) 46 280 478 Phone: (234) 808 718 0307; (234) 803 779 0317; Ekeoha Area III (234) 808 718 0307 Ekeoha Shopping Complex, Ehi/Asa Road, Aba Plot 9, Kontagora Close, Area 3, Garki Nnewi I CROSS RIVER Phone: (234) 802 969 2187; Phone: (234) 805 696 9139; (234) 9 291 0257 Zone IV Abakaliki I Plot 2306 Suez Crescent,Off Herbert Macaulay 2 Edo Ezemewui Road, Uruagu, Nnewi Phone: (234) 803 705 5767; (234) 805 279 2221; Ogoja 11 Sam Egwu Way, Abakaliki Factory Road, Aba. Asokoro Way, Wuse Zone 4 Phone: (234) 704 145 0143; (234) 802 052 3482 Plot 67 Yakubu Gowon Crescent, Asokoro District (234) 704 145 0341-3 (234) 803 788 2493; (234) (234) 46 871 106 19 MLA Hospital Road, Igoli-Ogoja 1 Factory Road, Aba Phone: (234) 803 713 4913; (234) 708 604 2283 Phone: (234) 82 290 475; (234) 802 052 3405 Phone: (234) 803 705 1101; (234) 9 291 0258; 9 291 0254; (234) 9 870 2771 Nnewi II EDO 3, Edo Ezemewi Road, Nnewi Tinapa Deidei NACA Centre Faulks Road, Aba Phone: (234) 803 396 4248 Line Shop B9 Tinapa Business Resort, Calabar C3 802 Int'l Building Materials Market, Deidei University of Abuja, NACA Centre, Gwagwalada Akpakpava I 187 Faulks Road, Aba Phone: (234) 807 595 3088; (234) 87 290 473 55, Akpakpava Road, Benin City. Phone: (234) 803 616 3397; (234) 9 291 0259 Phone: (234) 803 450 3908 Ogboefere Phone: (234) 803 560 1160 Govt. Station Layout, Umuahia LEMERIDIEN Ogboefere Industrial Market, Onitsha Calabar Abuja Netpost Plot 110 Govt. Station Layout Umuahia Nicon Luxury Hotel, Plot 903, Tafawa Balewa Way, Phone: (234) 803 387 1772; (234) 808 718 0338; 14 Murtala Mohammed Highway, Calabar Akpakpava II Area 1 Shopping Centre, Garki Phone: (234) 88 290 421; (234) 803 311 6150 Area 11, Garki, FCT, Abuja (234) 808 718 0338 Phone: (234) 803 720 4656 49, Akpakpava Road, Benin City Opposite Police Hospital Phone: (234) 52 895 044 Phone: (234) 704 1415 0352; (234) 803 6776 770 Old Market Road Ngwa Road Phone: (234) 704 145 0341-3 Obudu 24 Old Market Road, Onitsha 22A Ngwa Road, Aba Office of the Accountant General of the No.
Load more

Recommended publications
  • Ecobank Group Annual Report 2018 Building
    BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 ECOBANK GROUP ANNUAL REPORT CONTENTS 05 Performance Highlights 08 Ecobank is the leading Pan-African Banking Institution 09 Business Segments 10 Our Pan-African Footprint 15 Board and Management Reports 16 Group Chairman’s Statement 22 Group Chief Executive’s Review 32 Consumer Bank 36 Commercial Bank 40 Corporate and Investment Bank 45 Corporate Governance 46 Board of Directors 48 Directors’ Biographies 53 Directors’ Report 56 Group Executive Committee 58 Corporate Governance Report 78 Sustainability Report 94 People Report 101 Risk Management 141 Business and Financial Review 163 Financial Statements 164 Statement of Directors’ Responsibilities 165 Auditors’ Report 173 Consolidated Financial Statements 178 Notes to Consolidated Financial Statements 298 Five-year Summary Financials 299 Parent Company’s Financial Statements 305 Corporate Information 3 ECOBANK GROUP ANNUAL REPORT 3 PERFORMANCE HIGHLIGHTS 5 ECOBANK GROUP ANNUAL REPORT PERFORMANCE HIGHLIGHTS For the year ended 31 December (in millions of US dollars, except per share and ratio data) 2018 2017 Selected income statement data Operating income (net revenue) 1,825 1,831 Operating expenses 1,123 1,132 Operating profit before impairment losses & taxation 702 700 Impairment losses on financial assets 264 411 Profit before tax 436 288 Profit for the year 329 229 Profit attributable to ETI shareholders 262 179 Profit attributable per share ($): Basic
    [Show full text]
  • Ecobank Group
    PUBLIC Ecobank Group FY 2020 Earnings Investor Presentation 23 March 2021 © Ecobank Group 2021| FY 2020 Earnings Presentation | 23 March 2021 1 PUBLIC PUBLIC 1 Introduction Ade Ayeyemi, Group Chief Executive Officer 2 Risk Management Eric Odhiambo, Group Chief Risk Officer 3 Financial Review Ayo Adepoju, Group Chief Financial Officer 4 Q & A © Ecobank Group 2021| FY 2020 Earnings Presentation | 23 March 2021 2 PUBLIC PUBLIC INTRODUCTION Ecobank focused on its ‘Execution Momentum’ agenda, serving 1 customers, and achieved a decent set of results despite COVID-19’s challenges and an uncertain outlook Ade Ayeyemi, Group Chief Executive Officer © Ecobank Group 2021| FY 2020 Earnings Presentation | 23 March 2021 3 PUBLIC PUBLIC Key Investment Highlights 1 Leading Pan-African • Unique footprint across 35 African countries benefitting from attractive LT macro and sector fundamentals • Regional leadership position as either a market leading or a top-3 bank in 16 countries Franchise: Strong • Preferred partner for governments and global development institutions such as the United Nations Positioning and • “One Bank” with strong brand recognition through a substantial network of over 24 million customers, served by Preferred Partner ~14,000 employees and 690 branches across the continent 2 • Geographic diversification: UEMOA represents 30% of FY20 Revenues, AWA 28%, Nigeria 16%, CESA 27%(1) Diversified Business • Business model diversification: CIB (55% of FY20 Net revenue), CB (22%), Consumer (23%)(1) Model • Integrated technology platform eProcess enables central manufacture of products rolled out consistently across the platform • Recognised for innovation in African banking (Global Finance and African Banker Awards, 2020) 3 • Leadership in technology adoption to drive financial inclusion.
    [Show full text]
  • Banking for Africa's Tomorrow, Today
    Banking for Africa’s tomorrow, today Ecobank Group Annual Report 2017 Select Service Transfer Payee Akua Joyce Idris Amount: $35.00 PIN: SEND Banking for Africa’s tomorrow, today Ecobank Group Annual Report 2017 2017 Annual Report 2 Contents Contents 3 Performance Highlights 04 2017 Performance Highlights 06 A leading pan-African Bank 08 Business Model 09 Our Pan-African footprint 10 Board and Management Reports 12 Group Chairman’s statement 14 Group Chief Executive’s review 17 Consumer Bank 25 Commercial Bank 27 Corporate and Investment Bank 29 Corporate Governance 32 Board of Directors 34 Directors’ biographies 36 Directors’ report 41 Corporate Governance report 43 Sustainability report 58 People report 66 Risk Management 70 Business and Financial Review 102 Financial Statements 120 Statement of Directors’ responsibilities 122 Auditors’ report 123 Consolidated financial statements 128 Notes to consolidated financial statements 133 Five-year summary financials 213 Parent Company’s financial statements 214 Corporate Information 218 Executive management 220 Share capital overview 222 Holding company and subsidiaries 225 Shareholder contacts 226 Customer contact centers 227 2017 Annual Report 4 Our 2017 results were substantially better than in 2016 with marked improvements from all our three divisions, especially in our Corporate and Investment Bank. Ecobank achieved substantial cost savings as we ‘right-sized’ our businesses whilst we also restricted lending as we embedded greater discipline into our risk management procedures and took decisive
    [Show full text]
  • Ecobank Nigeria Limited
    Ecobank Nigeria Limited Nigeria Bank Analysis October 2015 Rating class Rating scale Rating Rating outlook Expiry date Long -term National A (NG) Stable September 2016 Short-term National A1-(NG) Financial data: Summary rating rationale (USDm comparative) The accorded ratings reflect Ecobank Nigeria Limited’s (“Ecobank” 31/12/13 31/12/14 or “the bank”) status as one of the systemically important banks in NGN/USD (avg.) 159.3 165.1 Nigeria, accounting for 6.4% (FYE13: 6.0%) of total industry assets NGN/USD (close) 161.1 182.6 at 31 December 2014. In addition to the implied likelihood of Federal Total assets 9,021.2 9,657.8 Government of Nigeria (“FGN”) support, if necessary, Ecobank also Primary capital 972.1 1,086.4 enjoys adequate support (both financial and technical) from its parent, Secondary capital 61.2 320.0 Ecobank Transnational Incorporated (“ETI”). Net advances 3,884.5 4,888.4 The bank’s capital level improved by 54.3% to N256.8bn at FYE14, Liquid assets 1,868.7 2,135.5 underpinned by an injection of N16.8bn in Tier 1 capital by ETI, the Operating income 807.1 973.1 issuance of a subordinated Tier 2 note of USD250m (N47bn), and Profit after tax 73.2 180.1 strong internal capital generation. Despite the notable growth in Market cap.* N346.8bn/USD1.7bn capital, higher growth in the bank’s risk weighted assets during the Market share** 6.4% year saw the total capitalisation ratio reduce to 16.0% (FYE13: *For ETI shares listed on The Nigerian Stock Exchange (“NSE”) as at 28 September 2015.
    [Show full text]
  • Nigeria: Financial Services Cluster Analysis and Recommendations
    NIGERIA Financial Services Cluster Analysis and Recommendations Lars Becker Matthias Boyer Chammard Zeinab W Hussein Yosuke Kotsuji Nana Quagraine Submitted for: Professor Michael E. Porter The Microeconomics of Competitiveness: Firms, Clusters & Economic Development May 2nd, 2008 Table of Content 1. EXECUTIVE SUMMARY........................................................................................................... 1 2. POLITICAL, SOCIAL AND LEGAL CONTEXT ........................................................................ 1 3. ECONOMIC PERFORMANCE............................................................................................... 3 4. ASSESSMENT OF THE BUSINESS ENVIRONMENT IN NIGERIA.............................................. 6 5. STRATEGIC ISSUES FOR NIGERIA........................................................................................ 10 6. RECOMMENDATIONS FOR THE COUNTRY ....................................................................... 11 7. ANALYSIS OF NIGERIAN FINANCIAL SERVICES CLUSTER ................................................ 13 8. THE DIAMOND OF THE NIGERIAN FINANCIAL SERVICES CLUSTER ................................ 24 9. SUMMARY OF STRATEGIC ISSUES FOR FINANCIAL SERVICES CLUSTER......................... 27 10. RECOMMENDATIONS FOR FINANCIAL SERVICES CLUSTER ......................................... 27 MAP OF NIGERIA 1. Executive Summary Nigeria has the second largest financial services sector in Sub-Saharan Africa, after South Africa. It is fast growing and at the cusp of expanding
    [Show full text]
  • African Financial Systems: a Review
    University of Pennsylvania ScholarlyCommons Finance Papers Wharton Faculty Research 4-2011 African Financial Systems: A Review Franklin Allen University of Pennsylvania Isaac Otchere Carleton University Lemma W. Senbet University of Maryland Follow this and additional works at: https://repository.upenn.edu/fnce_papers Part of the African Studies Commons, Entrepreneurial and Small Business Operations Commons, and the Finance and Financial Management Commons Recommended Citation Allen, F., Otchere, I., & Senbet, L. W. (2011). African Financial Systems: A Review. Review of Development Finance, 1 (2), 79-113. http://dx.doi.org/10.1016/j.rdf.2011.03.003 This paper is posted at ScholarlyCommons. https://repository.upenn.edu/fnce_papers/238 For more information, please contact [email protected]. African Financial Systems: A Review Abstract We start by providing an overview of financial systems in the African continent. eW then consider the regions of Arab North Africa, West Africa, East and Central Africa, and Southern Africa in more detail. The paper covers, among other things, central banks, deposit-taking banks, non-bank institutions, such as the stock markets, fixed income markets, insurance markets, and microfinance institutions. Keywords Banks, financial markets, insurance Disciplines African Studies | Entrepreneurial and Small Business Operations | Finance and Financial Management This journal article is available at ScholarlyCommons: https://repository.upenn.edu/fnce_papers/238 Available online at www.sciencedirect.com Review of Development Finance 1 (2011) 79–113 Review African financial systems: A review Franklin Allen a,∗, Isaac Otchere b, Lemma W. Senbet c a Finance Department, The Wharton School, University of Pennsylvania, Suite 2300 SH-DH, Philadelphia, PA 19104-6367, United States b Sprott School of Business, Carleton University, Canada c Robert H.
    [Show full text]
  • Press Information
    PRESS INFORMATION Notification of proposed launch of US$300 Million senior notes by Ecobank Nigeria Limited Lomé, February 1st, 2021– Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, the leading Pan-African banking group with banking operations in 34 countries hereby notifies the investing public that Ecobank Nigeria Limited (the “Bank”), a key subsidiary of Ecobank Transnational Incorporated (“ETI”) is seeking to raise capital from the international debt capital market through the issuance of US$300 million senior notes (the “Notes”), pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S (the “Transaction”). The proceeds of the Eurobond will provide medium term funding and help to enhance the capacity of the Bank to support international trade and service in Africa Further, the Notes, which will be issued through a Dutch special purposes funding vehicle, will be listed on the London Stock Exchange. In view of the foregoing, ETI is pleased to notify the Nigerian Stock Exchange and the investing public of the proposed launch of the Notes by the Bank. The Bank intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market. The Central Bank of Nigeria has confirmed that it has no objection to the Transaction. It should be noted that the Transaction is subject to prevailing market conditions and the conclusion of the necessary Transaction documentation. ----ENDS----- Adenike Laoye Group Head, Corporate Communications About Ecobank Transnational Incorporated (‘ETI’ or ‘The Group’) Ecobank Transnational Incorporated (‘ETI’) is the parent company of the Ecobank Group, the leading independent pan-African banking group.
    [Show full text]
  • Ecobank Ghana Limited at ¢11,000 Per Share
    EECCOOBBAANNKK GGHHAANNAA LLIIMMIITTEEDD FULL PROSPECTUS FOR THE SALE OF 8,275,000 ORDINARY SHARES OF NO PAR VALUE OF ECOBANK GHANA LIMITED AT ¢11,000 PER SHARE Lead Managers: ECOBANK STOCKBROKERS LTD & SSAASS STRATEGIC AFRICAN SECURITIES LTD The date of this prospectus is May 15, 2006 Ecobank Ghana Share Offer – Full Prospectus Responsibility for the accuracy of the information in this prospectus (the “Prospectus”) lies with the Directors of Ecobank Ghana Limited (‘EBG or the ‘Company” or the “Bank”). To the best of the knowledge and belief of the Directors of EBG, having taken all reasonable care, the information in this document is in accordance with the facts and does not omit anything likely to affect the import of such information. A copy of this document has been delivered to the Registrar of Companies in Ghana for registration. The Registrar has not checked and will not check the accuracy of any statement made, and accepts no responsibility therefor or for the financial soundness of the Company or the value of the securities concerned. This document was registered by the Registrar of Companies, Ghana on •2006. Application has been made to the Ghana Stock Exchange (the “GSE”), for the listing of all the fully paid issued shares of the Company on the First Official List of the GSE. The GSE has given approval for the listing of the said shares on the First Official List. The GSE assumes no responsibility for the correctness of any of the statements made, opinions expressed and reports presented in this Prospectus. Admission to the First Official List is not to be taken as an indication of the merits of the Company or of the shares of the Company.
    [Show full text]
  • Ecobank Has the Network Advantage Customers, Products, Geography
    Ecobank has the Network Advantage Customers, Products, Geography. Ecobank Group Annual Report 2015 Contents Contents 2015 Highlights 02 Ecobank at a glance 04 Unique pan-African footprint 06 Performance highlights 08 Board and Management Reports 10 Board of Directors 12 Directors’ biographies 14 Group Chairman’s statement 18 Directors’ report 21 Group Chief Executive’s review 24 Group Chief Operating Officer’s review 30 Corporate and Investment Bank 32 Domestic Bank 33 Treasury 34 Business and Financial Review 36 Corporate Governance 64 Corporate Governance report 66 Sustainability report 81 People report 96 Risk Management 100 Financial Statements 126 Statement of Directors’ responsibilities 128 Auditors’ report 129 Consolidated financial statements 130 Notes to consolidated financial statements 135 Five-year summary financials 217 Parent Company’s financial statements 218 Corporate Information 222 Executive management 224 Shareholder information 226 Holding company and subsidiaries 233 Shareholder contacts 234 Customer contact centers 235 01 2015 Annual Report 2015 highlights Our challenge remains to extract the maximum shareholder value from Africa’s largest financial services platform. With a clear strategic roadmap to market leadership in Middle Africa and a reinvigorated senior management team to implement it, we are confident of achieving our medium-term objectives. 02 03 2015 Annual Report Ecobank is the leading pan-African banking institution in Africa Founded in 1985 and headquartered in Lomé, Togo, Ecobank provides banking, consumer and commercial finance, investments, and securities and asset management to approximately 11 million customers ranging from individuals, small and medium-sized enterprises, regional and multinational corporations, financial institutions and international organisations through 1,268 branches and offices, 2,773 ATMs, the internet (ecobank.com) and mobile banking.
    [Show full text]
  • Côte D'ivoire
    www.pwc.com/za Unlocking opportunities Perspectives on Strategic and Emerging Issues in Africa West Coast banking February 2011 Table of contents Foreword 3 About the author 4 Introduction 5 Angola 17 Côte d’Ivoire 43 Democratic Republic of Congo 77 Ghana 115 Nigeria 147 Appendices 177 Contacts 189 2 Perspectives on Strategic and Emerging Issues in Africa West Coast banking Foreword We are pleased to launch this PwC I would like to thank: survey of mainly the banking industry on the West Coast of Africa with • the Chief Executive Officers and references to the insurance markets Senior Executives who participated in certain countries. The survey in this survey for their time, attempts to gather and compare commitment and support in diverse views from senior banking making this publication possible; executives from banking institutions • the partners and staff in our offices in Angola, Democratic Republic of on the West Coast of Africa and Congo (DRC), Cote d’Ivoire, Ghana our Johannesburg office who have and Nigeria, whilst at the same time assisted in producing this report; protecting confidentiality of the and participants. As in our South African Banking and Insurance surveys, this • in particular, Dr Brian Metcalfe for survey offers perspectives on the his work in producing this report. strategic and emerging issues in these We trust that you will find the territories. results and analysis insightful and we welcome any feedback you This survey has been developed by may have on the report so that we PwC and Dr Brian Metcalfe and the can incorporate it into future PwC key objectives are to: surveys.
    [Show full text]
  • Size, Liquidity and Legal Regime Factors in Asset Pricing
    The liquidity-cost implications from the attraction of regional primary listings: evidence from West Africa Article (Accepted Version) Hearn, Bruce (2014) The liquidity-cost implications from the attraction of regional primary listings: evidence from West Africa. Research in International Business and Finance, 30 (1). pp. 91-110. ISSN 0275-5319 This version is available from Sussex Research Online: http://sro.sussex.ac.uk/id/eprint/65069/ This document is made available in accordance with publisher policies and may differ from the published version or from the version of record. If you wish to cite this item you are advised to consult the publisher’s version. Please see the URL above for details on accessing the published version. Copyright and reuse: Sussex Research Online is a digital repository of the research output of the University. Copyright and all moral rights to the version of the paper presented here belong to the individual author(s) and/or other copyright owners. To the extent reasonable and practicable, the material made available in SRO has been checked for eligibility before being made available. Copies of full text items generally can be reproduced, displayed or performed and given to third parties in any format or medium for personal research or study, educational, or not-for-profit purposes without prior permission or charge, provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. http://sro.sussex.ac.uk The liquidity cost implications arising from the attraction of regional primary listings: Evidence from West Africa Bruce Hearn* University of Sussex Abstract This study reviews the liquidity costs for firms in outlying regions in primary listing on a centralized stock exchange.
    [Show full text]
  • ECOBANK TRANSNATIONAL INCORRORATED Audited Consolidated Financial Statements for Year Ended 31 December 2019
    ECOBANK TRANSNATIONAL INCORRORATED Audited Consolidated Financial Statements For year ended 31 December 2019 Ecobank Transnational Incorporated Consolidated Financial Statements For the year ended 31 December 2019 CONTENTS Directors report Statement of directors' responsibilities Report of the independent auditors Audited Consolidated financial statements: Press release Consolidated statement of comprehensive income USD Consolidated statement of comprehensive income GHC Consolidated statement of financial position USD Consolidated statement of financial position GHC Consolidated statement of changes in equity USD Consolidated statement of changes in equity GHC Consolidated statement of cash flows USD Consolidated statement of cash flows GHC Notes to the audited consolidated financial statements Five year summary Page 1 Ecobank Transnational Incorporated For year ended 31 December 2019 Statement of directors' responsibilities Responsibility for annual consolidated financial statements The Directors are responsible for the preparation of the consolidated financial statements for each financial year that give a true and fair view of the financial position of the Group as at 31 December 2019 and the results of its operations, statement of cash flow, income statement and changes in equity for the year ended in compliance with International Financial Reporting Standards ("IFRS"). This responsibility includes ensuring that the Group: (a) keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the Group; (b) establishes adequate internal controls to safeguard its assets and to prevent and detect fraud and other irregularities; and (c) prepares its consolidated financial statements using suitable accounting policies supported by reasonable and prudent judgments and estimates, that are consistently applied. The Directors accept responsibility for the consolidated financial statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgments and estimates, in conformity with IFRS.
    [Show full text]