A large transaction in Ecobank Côte d'Ivoire shares pushed daily trading volumes to a record high. The investor responsible for this performance could be seduced by the fact that the Bank is showing resilience in the face of covid-19.

Ecobank Côte d'Ivoire shares were the subject of a record transaction which remains unexplained during the session of November 5, 2020.

More than a million of its shares have been traded on the Regional Stock Exchange (BRVM). This is a volume well above the 980,105 shares of the company traded on February 20, 2018, three months after its IPO.

What we know for the moment is that this volume is not the result of a strong demand from several investors, but rather that of only one of them who would have acquired for a little more than 900 000 shares of the financial company. It also had to pay a high price, because the action ended up 7.8% according to the official bulletin of the rating of that day.

Ecobank Côte d'Ivoire has something to attract investors, due to its generous dividend policy. For the 2019 financial year, it distributed 19.4 billion FCFA in gross dividends, or 76.6% of its net profit for the financial year. The Bank also continued to reduce its charges and control its cost of risk.

Despite covid-19, its net profit for the first 9 months of 2020 is up 27.1%. It remains to be seen who is the mysterious investor who bought 2% of his shares.