Ecobank Ivory Coast recorded solid net profit growth over the first 9 months of 2022. This advance allowed it to boost the overall performance of banks listed on the UEMOA Regional Securities Exchange (BVRM).

The subsidiary in Côte d'Ivoire of the Ecobank Transnational Incorporated (ETI) group achieved a net profit of 28.4 billion FCFA ($43.4 million). This is an unaudited financial result for the first 9 months of 2022. Indeed, Ecobank is on the rise in the first 9 months of 2022.

According to calculations by the Ecofin Agency, the overall net profit for the 7 banks that published their financial statements for the first 9 months of 2022 was FCFA 159.3 billion, an increase of 7%. But with data from Ecobank CI, net income rose by 9% to 187.6 billion FCFA.

For example, in its financial communication, the bank explained that “the cost of risk is still better contained than last year at the same period (down 2.3%) while helping to strengthen the level of coverage of overdue claims, which is now 85%”.