DOCSLIB.ORG

Download It Nowit Now ECOBANK GROUP ANNUAL REPORT 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

ECOBANK GROUP ANNUAL REPORT 2020 REPORT ANNUAL GROUP ECOBANK RISING TO THE CHALLENGE ECOBANK GROUP ANNUAL REPORT 2020 Ecobank Transnational Incorporated The Pan African Centre 2365, boulevard du Mono B.P. 3261, Lomé – Togo www.ecobank.com 9999_GRP_ANNUAL_REPORT_2020_COVER_190x275mm_23mm-Spine_EN_V4.indd All Pages 2021/05/01 14:26 RISING TO THE CHALLENGE ECOBANK GROUP ANNUAL REPORT 2020 CONTENTS CONTENTS 05 About Us 42 A Letter from Group 157 Financial Statements Executive, Commercial Bank 07 Our Vision and Mission 158 Statement of Directors’ 48 A Letter from Group Responsibilities 08 Ecobank: The leading Pan- Executive, Corporate and African Banking Institution 159 Auditors’ Report Investment Bank 10 Our Performance 167 Consolidated Financial 53 Corporate Governance Statements 12 Our Diversified Business 54 Board of Directors Model 172 Notes to Consolidated 56 Directors’ Biographies Financial Statements 13 Our Digital Offering 62 Directors’ Report 282 Statement of Value Added 14 Ecobank Values and Pledge 66 Group Executive Committee 282 Five-year Summary Financials 17 Group Chairman and Management 68 Corporate Governance 283 Parent Company’s Financial Statements 18 A Letter from the Group 82 Sustainability Report 289 Corporate Information Chairman 92 People Report 24 A Letter from the Group CEO 101 Risk Management 38 A Letter from Head, 131 Business and Financial Consumer Bank Review 3 ECOBANK GROUP ANNUAL REPORT 2020 SUPPORTING WOMEN IN BUSINESS Our ‘Ellevate’ programme supports The female economy is a critical one. Women constitute roughly half of the population in Africa. women-led/owned/focused One-in-four female adults in Africa starts or businesses with collateral-lite funding manages a business, making the continent one options, smart cash management, of the highest in terms of women entrepreneurs across the world. mentoring, networking and other support. Targeting this largely The financing gap in women-led businesses in untapped sector offers us huge Africa is about $42 billion and this represents a massive and attractive opportunity. We cannot truly growth opportunities. say that we are a pan-African bank if we ignore this significant business segment. In 2021, we will support our women-owned and women-focused SMEs with 10 per cent of our loan book. 4 ABOUT US 01 ABOUT US 5 ECOBANK GROUP ANNUAL REPORT 2020 6 ABOUTABOUT US US OUR VISION AND MISSION DRIVE US OUR VISION To build a world-class pan-African bank and contribute to the economic development and financial integration of Africa OUR MISSION To provide all of our customers with convenient and reliable financial products and services 77 ECOBANK GROUP ECOBANKANNUAL REPORTGROUP 2020 ANNUAL REPORT 2020 ECOBANK IS THE LEADING PAN-AFRICAN BANKING INSTITUTION UEMOA NIGERIA CESA Total assets* $9,969m Total assets $5,630m Total assets $5,961m Customer deposits $6,849m Customer deposits $3,538m Customer deposits $4,510m Total equity $822m Total equity $796m Total equity $595m No. of countries 9 No. of countries 1 No. of countries 18 TUNISIA MOROCCO ALGERIA LIBYA WESTERN EGYPT SAHARA MAURITANIA CAPE VERDE MALI NIGER SUDAN E R I T R E A SENEGAL CHAD THE GAMBIA BURKINA GUINEA-BISSAU D J I B O U T I FASO GUINEA BENIN Addis Ababa NIGERIA (Representative Office) TOGO CÔTE SIERRA LEONE LIBERIA D’IVOIRE GHANA SOUTH E T H I O P I A CENTRAL AFRICAN SUDAN REPUBLIC Lomé (Headquarters) CAMEROON S O M A L I A EQUATORIAL GUINEA UGANDA K E N Y A SÃO TOMÉ & PRÍNCIPE CONGO AWA GABON RWANDA DR CONGO Total assets $4,304m BURUNDI Customer deposits $3,180m TANZANIA Total equity $585m No. of countries 5 ANGOLA ZAMBIA M A L AW I Ecobank geographic regions ZIMBABWE MOZAMBIQUE M A D A G A S C A R BOTSWANA Francophone West Africa (UEMOA) NAMIBIA Johannesburg Nigeria (Representative Office) Eswatini LESOTHO SOUTH Anglophone West Africa (AWA) AFRICA International Central, Eastern and Total assets $1,164m Southern Africa (CESA) Customer deposits $221m Non-Ecobank region Total equity $121m Ecobank representative offices No. of countries 4 *Totals for assets, deposits, and equity may not sum up to reported totals because of unadjustments for ‘others and consolidation8 adjustments’. ABOUTABOUT US US More than 28 million Customers 14,023 Employees Present in 35 African Countries from Nationalities 43 (33 Banking Subsidiaries and Male:Female Ratio 9 Non-Banking Subsidiaries) 54:46 1985 $2.0 billion $25.9 billion Total Equity Total Assets Founded in 1985 Headquartered in Lomé, Togo International offices in Paris, London, 690 Branches Dubai, Beijing 66,408 Xpress Point Agents 3 2,659 Listed on 3 Stock Exchanges - NSE, GSE and BRVM ATMs 11 million Mobile App Users 40 million Digital transactions All figures as at 31 December 2020 9 ECOBANK GROUP ECOBANKANNUAL REPORTGROUP 2020 ANNUAL REPORT 2020 OUR PERFORMANCE For the year ended 31 December (in millions of US dollars, except per share and ratio data) 2020 2019 Selected income statement data Operating income (net revenue) 1,680 1,622 Operating expenses 1,054 1,073 Pre-tax pre-provision operating profit 626 549 Impairment charges on financial assets 227 134 Operating profit after impairment charges and before taxation 399 415 Profit before tax (excluding goodwill)1 338 405 Profit before tax 174 405 Profit for the year 88 276 Profit available to ETI shareholders 4 194 Profit available per share (US cents): Basic 0.010 0.778 Diluted 0.010 0.778 Selected statement of financial position data Net loans and advances to customers 9,240 9,277 Total assets 25,939 23,641 Risk-weighted assets 15,628 15,503 Deposits from customers 18,297 16,246 ETI's shareholders' equity 1,503 1,477 Total equity 2,028 1,886 Ordinary shares outstanding (millions) 24,730 24,730 Book value per ordinary share (US cents)2 6.08 5.97 Tangible book value per ordinary share, TBVPS (US cents) 5.47 4.72 ETI share price (US cent)3 High 2.21 4.14 Low 1.01 1.66 Period end 1.58 1.79 Selected ratios Profit for the year to average total assets (ROA) 0.4% 1.2% ROA (excluding goodwill) 1.0% 1.2% Profit for the year to total equity (ROE)4 0.3% 13.2% ROE (excluding goodwill) 11.3% 13.2% Profit for the year to tangible total equity (ROTE) 0.3% 16.5% ROTE (excluding goodwill) 13.3% 16.5% Tier 1 capital ratio 9.4% 8.8% Total capital adequacy ratio (CAR) 12.3% 11.6% Net interest margin 5.5% 4.7% Cost-to-income ratio 62.7% 66.2% Non-performing loans ratio 7.6% 9.7% Non-performing loans coverage ratio 74.5% 58.3% 1. In 2020, we recorded a non-cash, non-recurring goodwill charge of $164 million ($159 million related to our acquisition of former Oceanic Bank in 2011). 2. Book value per ordinary share (BVPS) is computed by dividing the Group’s shareholders’ equity at period-end with the number of ordinary shares outstanding at period-end. 3. ETI share price on the Nigerian Stock Exchange at period-end converted into US dollars using Bloomberg applicable rate at period-end. 4. ROE is computed using profit available to ETI (parent company) shareholders divided by the average end-of-period ETI shareholders’ equity. ROTE is computed using profit available to ETI shareholders divided by the average end-of-period tangible shareholders’ equity. Tangible shareholders’ equity is ETI shareholders’ equity less non-controlling interests, goodwill and intangible assets. 10 ABOUTABOUT US US Operating income (net revenue) rofit efore ta rofit aaae to ($bn) ($m) ETI shareholders ($m) 405 383 1.97 1.83 1.83 208 194 288 179 1.62 1.68 1741 42 (131) (250) 2016 20172018 2019 2020 2016 20172018 2019 2020 2016 20172018 2019 2020 Return on tangible shareholders’ Diluted earnings per share Tangible book value per share equity (%) (US cent) (US cent) 16.5 12.4 13.1 0.72 0.74 0.78 6.46 5.47 5.22 4 4.77 4.72 0.33 0.01 (14.6) (1.01) 2016 20172018 2019 2020 2016 20172018 2019 2020 2016 20172018 2019 2020 Net loans & advances to customers Deposits from customers Total assets ($bn) ($bn) ($bn) 9.26 9.36 9.17 9.26 9.24 18.30 25.65 15.94 16.32 24.13 15.20 22.43 22.58 13.50 20.51 2016 20172018 2019 2020 2016 20172018 2019 2020 2016 20172018 2019 2020 1. Profit before tax is $338 million if the $164 million one-off, non-recurring goodwill charge is excluded. 2. Profit available negatively impacted by the goodwill charge of $164 million 3. Excluding the impact of the $164 million goodwill charge, ROTE is 13.3 per cent. 4. Diluted EPS for 2020 negatively impacted by the goodwill charge 11 ECOBANK GROUP ECOBANKANNUAL REPORTGROUP 2020 ANNUAL REPORT 2020 OUR DIVERSIFIED BUSINESS MODEL anufacture financa roducts and serces centra and dstrute te oca Central Manufacture Corporate and Commercial Consumer Investment Bank Bank Bank Products Products Products ed ncoe currences and orn cata financn • Liability product commodities (FICC) sset financn • Loans • Cash management ender financn • Payments rade finance and serces • Business prepaid cards • Remittances • Loans and liquidity • Digital products and collections • Cards (pre-paid, debit, credit) • Securities, Wealth and Asset rade finance • Bancassurance Management (SWAM) • Wealth solutions • Investment banking Customers Customers Customers • Governments • SMEs fuent • Regional & global corporations • Local corporates ern fuent • Financial institutions • Local NGOs • Mass Market • International organisations • Local government agencies crofinance • Faith-based organisations • Educational institutions • Healthcare institutions Distribution Francophone West Anglophone Central, Eastern and Nigeria Africa (UEMOA) West Africa (AWA) Southern Africa (CESA) Corporate and Investment Bank ($m) Commercial Bank ($m) Consumer Bank ($m) Net revenue 949 Net revenue 372 Net revenue 400 Pre-provision operating profit 522 Pre-provision operating profit 92 Pre-provision operating profit 74 Profit before tax 364 Profit before tax 23 Profit before tax 42 Customer deposits 7,560 Customer deposits 4,285 Customer deposits 6,452 Lines of business net revenue, pre-provision operating profit and profit before tax will not add up to total reported numbers because they exlude figures from ‘Others’ and are unadjusted for consolidation.
Recommended publications
  • Ecobank Group Annual Report 2018 Building

    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
  • Bank Code Finder

    Bank Code Finder

    No Institution City Heading Branch Name Swift Code 1 AFRICAN BANKING CORPORATION LTD NAIROBI ABCLKENAXXX 2 BANK OF AFRICA KENYA LTD MOMBASA (MOMBASA BRANCH) AFRIKENX002 3 BANK OF AFRICA KENYA LTD NAIROBI AFRIKENXXXX 4 BANK OF BARODA (KENYA) LTD NAIROBI BARBKENAXXX 5 BANK OF INDIA NAIROBI BKIDKENAXXX 6 BARCLAYS BANK OF KENYA, LTD. ELDORET (ELDORET BRANCH) BARCKENXELD 7 BARCLAYS BANK OF KENYA, LTD. MOMBASA (DIGO ROAD MOMBASA) BARCKENXMDR 8 BARCLAYS BANK OF KENYA, LTD. MOMBASA (NKRUMAH ROAD BRANCH) BARCKENXMNR 9 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BACK OFFICE PROCESSING CENTRE, BANK HOUSE) BARCKENXOCB 10 BARCLAYS BANK OF KENYA, LTD. NAIROBI (BARCLAYTRUST) BARCKENXBIS 11 BARCLAYS BANK OF KENYA, LTD. NAIROBI (CARD CENTRE NAIROBI) BARCKENXNCC 12 BARCLAYS BANK OF KENYA, LTD. NAIROBI (DEALERS DEPARTMENT H/O) BARCKENXDLR 13 BARCLAYS BANK OF KENYA, LTD. NAIROBI (NAIROBI DISTRIBUTION CENTRE) BARCKENXNDC 14 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PAYMENTS AND INTERNATIONAL SERVICES) BARCKENXPIS 15 BARCLAYS BANK OF KENYA, LTD. NAIROBI (PLAZA BUSINESS CENTRE) BARCKENXNPB 16 BARCLAYS BANK OF KENYA, LTD. NAIROBI (TRADE PROCESSING CENTRE) BARCKENXTPC 17 BARCLAYS BANK OF KENYA, LTD. NAIROBI (VOUCHER PROCESSING CENTRE) BARCKENXVPC 18 BARCLAYS BANK OF KENYA, LTD. NAIROBI BARCKENXXXX 19 CENTRAL BANK OF KENYA NAIROBI (BANKING DIVISION) CBKEKENXBKG 20 CENTRAL BANK OF KENYA NAIROBI (CURRENCY DIVISION) CBKEKENXCNY 21 CENTRAL BANK OF KENYA NAIROBI (NATIONAL DEBT DIVISION) CBKEKENXNDO 22 CENTRAL BANK OF KENYA NAIROBI CBKEKENXXXX 23 CFC STANBIC BANK LIMITED NAIROBI (STRUCTURED PAYMENTS) SBICKENXSSP 24 CFC STANBIC BANK LIMITED NAIROBI SBICKENXXXX 25 CHARTERHOUSE BANK LIMITED NAIROBI CHBLKENXXXX 26 CHASE BANK (KENYA) LIMITED NAIROBI CKENKENAXXX 27 CITIBANK N.A. NAIROBI NAIROBI (TRADE SERVICES DEPARTMENT) CITIKENATRD 28 CITIBANK N.A.
  • Cash Country Service Listing April 2014

    Cash Country Service Listing April 2014

    ® WorldLink Payment Services Cash Country Service Listing April 2014 WorldLink® Cash payments is currently offered through Western Union and is thus required to follow the requirements and regulations of within the destination country of your beneficiary. Failure to meet those requirements will result in the payment being rejected. The information provided in the WorldLink Cash Country Service Listing includes updates sent to Western Union prior to:April 2014. The material contained in this Cash Country Service Listing is for informational purposes only, and is provided solely as a courtesy by WorldLink. Although WorldLink believes this information to be reliable, WorldLink makes no representation or warranty with respect to its accuracy or completeness. The information in this Cash Country Service Listing does not constitute a recommendation to take or refrain from taking any action, and WorldLink is not providing any tax, legal or other advice. Citigroup and its affiliates accept no liability whatsoever for any use of this material or any action taken based on or arising from anything contained herein. The information in this Cash Country Service Listing is subject to change at any time according to changes in local law. WorldLink is not obligated to inform you of changes to local law. Citibank Europe plc (“Citibank Europe”) may, at its discretion, reasonably modify or amend this Cash Country Service Listing from time to time, which modification or amendment will become binding when your organization receives a copy of it. These materials are confidential and proprietary to Citigroup or its affiliates and no part of these materials should be reproduced, published in any form by any means, electronic or mechanical including photocopy or any information storage or retrieval system nor should the materials be disclosed to third parties without our express written authorization.
  • The Determinants of Bank's Profitability in Ghana, The

    The Determinants of Bank's Profitability in Ghana, The

    The Determinants of Bank’s Profitability in Ghana, The Case of Merchant Bank Ghana Limited (MBG) and Ghana Commercial Bank (GCB) By Anthony Kofi Krakah & Aaron Ameyaw Henrik Sällberg (Supervisor) Master’s Thesis in Business Administration, MBA programme 2010 Table of Contents Table of Contents ............................................................................................................................................ i ABSTRACT ...................................................................................................................................................... v ACKNOWLEDGEMENT ........................................................................................................................................ vi CHAPTER ONE ............................................................................................................................................... 1 1.0 INTRODUCTION ...................................................................................................................................... 1 An overview of the banking industry in Ghana ..................................................................................................... 3 1.2 Background of the banks ......................................................................................................................... 6 Global Banking Industry .................................................................................................................. 12 Statement of the problem ..........................................................................................................................
  • A Study of Ecobank Ghana Limited and the Trust Bank

    A Study of Ecobank Ghana Limited and the Trust Bank

    Texila International Journal of Management Volume 3, Issue 2, Nov 2017 Synergies from Mergers and Acquisitions: A Study of Ecobank Ghana Limited and the Trust Bank Article by Daniel Kwabla- King Management, Texila American University, Ghana E-mail: [email protected] Abstract The Social Security and National Insurance Trust (SSNIT) the national Pension Scheme managers in Ghana with significant stake in the Ghanaian banking industry, in the year 2011 made a strategic move to drive bank consolidation in Ghana through the swapping of its shares in The Trust Bank (TTB) for ETI’s shares in Ecobank Ghana Limited (EBG). This study was set examine whether synergies were derived from the merger. It also examined whether the objectives set by SSNIT were met and finally determine whether the bank has remained competitive after the merger. The approach used for the study was quantitative technique and case study which concluded that the merger of Ecobank Ghana Limited and TTB achieved the intended results for SSNIT. Keywords: Synergies, Merger, Acquisition, Ecobank Ghana Limited, the Trust Bank, SSNIT, Ghana. Introduction The Social Security and National Insurance Trust (SSNIT) which had shares in most banks with controlling interest in TTB, in line with realigning its investments portfolio to achieve maximum returns, decided to drive bank consolidation through the swapping of its shares in The Trust Bank (TTB) for ETI’s shares in Ecobank Ghana Limited (EBG). The objective of the merger was to take advantage of efficiencies and synergies leading to enhanced shareholder value. Making a case for the merger, it was established that the core business of TTB was Commercial and retail banking with their focus on Small and Medium Scale Enterprises (SMEs).
  • Ecobank Group

    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.
  • BUSINESS CONSOLIDATION and ITS IMPACT on FINANCIAL PERFORMANCE: EVIDENCE from the GHANAIAN BANKING INDUSTRY Haruna Maama1

    BUSINESS CONSOLIDATION and ITS IMPACT on FINANCIAL PERFORMANCE: EVIDENCE from the GHANAIAN BANKING INDUSTRY Haruna Maama1

    European Journal of Accounting Auditing and Finance Research Vol.5, No.8, Pp.62-76, August 2017 ___Published by European Centre for Research Training and Development UK (www.eajournals.org) BUSINESS CONSOLIDATION AND ITS IMPACT ON FINANCIAL PERFORMANCE: EVIDENCE FROM THE GHANAIAN BANKING INDUSTRY Haruna Maama1. Rev Dr. John Poku2. Kennedy Frimpong3 1Kwame Nkrumah University of Science and Technology 2Senior Lecturer, Department of Accountancy, Kumasi Technical University, Ghana and Director, International Affairs and Institutional Linkages 3Lecturer, Department of Accountancy, Sunyani Technical University, Ghana ABSTRACT: The study provides empirical examination on the impact of business consolidation or mergers and acquisitions (M&A) on the financial performance of banks in Ghana. Both descriptive and correlational research designs were employed for the study. Two banks: Ecobank Ghana Ltd and Access Bank Ghana Ltd were chosen for the study. The annual reports of the banks from pre-merger period (2009 to 2011) and post-merger period (2012 to 2015) were used for the analysis. Two analysis techniques: ratio and regression analysis were used to examine the impact of mergers and acquisitions (M&A) on the profitability of these firms. Net profit margin (NPM) and return on capital employed (ROCE) were used as proxies for financial performance and Ordinary Least Square (OLS) regression model was used to estimate the level of impact of M&A on the performance of the banks. The study revealed that mergers and acquisitions (M&A) resulted to more than 80% growth in income and the net assets immediately after acquisition. The growth in profitability continued in subsequent years, however at a decreasing rates.
  • WEEKLY MARKET REVIEW 8 March 2019

    WEEKLY MARKET REVIEW 8 March 2019

    DATABANK RESEARCH WEEKLY MARKET REVIEW 8 March 2019 ANALYST CERTIFICATE & REQUIRED DISCLOSURE BEGINS ON PAGE 4 GSE MARKET STATISTICS SUMMARY Current Previous % Change Weekly Market Review Databank Free Float Index (DSI-20) 111.92 111.68 0.21% At the end of this week’s trading sessions, the Ghana GSE-CI Level 2,476.55 2,482.10 -0.22% Stock Exchange (GSE) recorded 10 price changes: 4 Market Cap (GH¢ m) 59,971.27 60,227.38 -0.43% YTD Return DSI-20 -4.88% -5.08% advancers and 6 decliners. The gainers for the week were YTD Return GSE-CI -3.72% -3.50% Ecobank Ghana (+10.24% w/w, GH¢7.75), GCB Bank Weekly Volume Traded (Shares) 4,899,415 1,963,159 149.57% (+8.26% w/w, GH¢3.80), Enterprise Group (+2.29% w/w, Weekly Turnover (GH¢) 3,905,685 12,076,818 -67.66% GH¢2.23) and Camelot (+11.11% w/w, GH¢0.10). Societe Avg. Daily Volume Traded (Shares) 372,148 290,938 27.91% Generale (-8.16% w/w, GH¢0.90), Total Petroleum (- Avg. Daily Value Traded (GH¢) 778,082 759,192 2.49% 1.53% w/w, GH¢4.52), Cal Bank (-2.91% w/w, GH¢1.00) No. of Counters Traded 16 22 and MTN Ghana (-2.70% w/w, GH¢0.72) were the top No. of Gainers 4 5 laggards. No. of Laggards 6 6 Trading activity slackened this week. Total Market Turnover for the week slowed ~68% w/w to ~GH¢3.91 KEY ECONOMIC INDICATORS million.
  • Integrated Report & Financial Statements2017 2017 | Integrated Report & Financial Statements

    Integrated Report & Financial Statements2017 2017 | Integrated Report & Financial Statements

    INTEGRATED REPORT & FINANCIAL STATEMENTS2017 2017 | INTEGRATED REPORT & FINANCIAL STATEMENTS REPORT 2017 | INTEGRATED Family Bank Towers, Muindi Mbingu Street | P.O. Box 74145 - 00200, Nairobi, Kenya | Tel: 254-2-3252 445/0703095 445 Email: [email protected] | Website: www.familybank.co.ke 1 2 FAMILY BANK LIMITED INTEGRATED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 1 ABOUT THE INTEGRATED REPORT AND AUDITED FINANCIAL STATEMENTS 2017 Family Bank Limited is pleased to present its annual Integrated Report, which covers the period from 1 January 2017 to 31 December 2017. This report contains comprehensive information of our financial performance, stakeholders, governance, material issues, risks and opportunities and how these influence our strategic initiatives. In this report, Family Bank demonstrates how we create and sustain value through our business. This report is compiled and presented in accordance with the Corporate Governance Guidelines and Codes of Conduct prescribed by the Central Bank of Kenya, the Corporate Governance Guidelines of the Capital Markets Authority (CMA), the Continuing Listing Obligations of the CMA as required by the Nairobi Securities Exchange and the Global Reporting International (GRI). We have implemented the framework as far as practical and our approach to integrated reporting will continue to evolve over time, in line with the framework. Our Annual Financial Statements were prepared in accordance with International Financial Reporting Standards (IFRS) and the requirements of the Companies Act, 2015. We received external assurance from our auditor, PWC Kenya on the fair presentation of these annual financial statements. See the Independent Auditor’s Report on pages 58 to 61.
  • Faculty of Commerce

    Faculty of Commerce

    FACULTY OF COMMERCE DEPARTMENT OF BANKING AND FINANCE IMPACT OF GREEN BANKING STRATEGIES ON CUSTOMER SATISFACTION: A CASE OF COMMERCIAL BANKS IN ZIMBABWE BY EDWIN DEMERA STUDENT NUMBER: R156409C SUPERVISOR: PROFESSOR L. CHIKOKO THIS DISSERTATION IS SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS OF THE MASTER OF COMMERCE IN BANKING AND FINANCE DEGREE IN THE DEPARTMENT OF BANKING AND FINANCE AT MIDLANDS STATE UNIVERSITY OCTOBER 2019 GWERU: ZIMBABWE RELEASE FORM NAME OF STUDENT: EDWIN DEMERA DISSERTATION TITLE: IMPACT OF GREEN BANKING STRATEGIES ON CUSTOMER SATISFACTION: A CASE OF COMMERCIAL BANKS IN ZIMBABWE. DEGREE TITLE: MASTER OF COMMERCE DEGREE IN BANKING AND FINANCE YEAR THE DEGREE IS GRANTED: 2019 Permission is hereby granted to Midlands State University to produce single copies of this project and lend or sell such copies for private, scholarly or scientific research purposes only. The author reserves other publication rights neither the project nor extensive extracts from it may be printed or otherwise reproduced without the author’s written permission. SIGNED ………………………………………………….. PERMANENT ADDRESS 18633 Unit L, Seke, Chitungwiza, Zimbabwe DATE October 2019 i APPROVAL FORM The undersigned certify that they have read and recommend to Midlands State University for acceptance a research project titled “Impact of green banking strategies on customer satisfaction: A case of commercial banks in Zimbabwe” submitted by Edwin Demera in partial fulfilment of the requirements for the Master of Commerce Degree in Banking and Finance. …………………………………………. …………………………………………. SUPERVISOR DATE …………………………………………. …………………………………………. CHAIRPERSON DATE ii DECLARATION I, Edwin Demera, declare that this dissertation is my original work. It is being submitted in partial fulfillment of the requirements of the Master of Commerce in Banking and Finance Degree in the Faculty of Commerce at Midlands State University.
  • WT/TPR/S/398/Rev.1 30 November 2020 (20-8614) Page

    WT/TPR/S/398/Rev.1 30 November 2020 (20-8614) Page

    WT/TPR/S/398/Rev.1 30 November 2020 (20-8614) Page: 1/119 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT ZIMBABWE Revision This report, prepared for the third Trade Policy Review of Zimbabwe, has been drawn up by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Zimbabwe on its trade policies and practices. Any technical questions arising from this report may be addressed to: Mr. Jacques Degbelo (tel.: 022 739 5583), Mr. Thomas Friedheim (tel.: 022 739 5083), and Ms. Catherine Hennis-Pierre (tel.: 022 739 5640). Document WT/TPR/G/398 contains the policy statement submitted by Zimbabwe. Note: This report was drafted in English. WT/TPR/S/398/Rev.1 • Zimbabwe - 2 - CONTENTS SUMMARY ........................................................................................................................ 7 1 ECONOMIC ENVIRONMENT ........................................................................................ 10 1.1 Main Features of the Economy .....................................................................................10 1.2 Recent Economic Developments ...................................................................................10 1.2.1 Monetary and exchange rate policies ..........................................................................14 1.2.2 Fiscal policy ............................................................................................................17
  • 2009 Eco Bank Report

    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.