Nigeria Ecobank transnational incorporated (Eti) has published its business figures for the first half of fiscal 2021. As a result, the bank's revenues increased by 7% to $825 million.

Despite a challenging operating environment with the third wave of coronavirus infections threatening economic recovery, revenues increased by 7% to $825 million. a verator of the success of our execution dynamic. As a result, we generated a return on tangible equity of 16.1% compared to 15.2% in 2020. In addition, pre-tax profit increased 23% to $ 210 million," said Ade Ayeyemi, Chief Executive Officer of Ecobank Group. He continues : " I am proud of the hard work of our employees to improve operational efficiency, resulting in an operating ratio of 58.7% ahead of forecasts and progressing well towards our medium-term target of 55%. In addition, the quality of the portfolio remained exceptionally strong. As a result, our bad debt ratio of 7.4% is a substantial improvement over the previous year's 9.8%. Deposit growth was strong, now exceeding $19 billion, an increase of $1.0 billion in the second quarter and $2.4 billion year-on-year, thanks to our appropriate business strategy.

Ade Ayeyemi Ayo Adepoju said the bank successfully raised $350 million in Tier 2 sustainability bonds in June, the first by a financial institution in sub-Saharan Africa. The transaction was oversubscribed 3.6 times, demonstrating strong confidence in the Ecobank Group and its commitment to sustainability.