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Earnings before tax: Ecobank Transnational Incorporated announces $125 million for the first quarter of 2023

03/05/2023
Source : ORISHAS FINANCE
Categories: Index/Markets

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For the first quarter of 2023, Ecobank announced a profit before tax of 125 million dollars, a diluted EPS of 0.26 US cents on net sales of 483 million dollars.

In the first quarter of 2023, the solid underlying results reflect the resilience of Ecobank's diverse business model, efficiency and stability. Operating income before provisions and taxes increased 13% to $207 million. According to Jeremy Awori, CEO of the Ecobank Group, 2023 , les résultats du groupe “au premier trimestre have shown progress despite the difficult global and regional macroeconomic environment.” Pour lui, le groupe a demonstrated the resilience of its diverse pan-African business model, the efficiency, the stability of the balance sheet, the close relationships with these customers, and the hard work of the more than 14,000 Ecobankers.

According to the CEO, “l Net revenue increased by 11%, or 34% if you exclude the effects of converting the performances of our affiliates in their local currencies in US dollars, with robust revenue dynamics across all our businesses. As a result, we generated a return on tangible equity of 19.5%

.”
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