Companies
Updated: December 02, 2022

Q3 2022: Ecobank Records N59 Billion Profit

By Felicia Abisola Olamiji
December 02, 2022
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For the third quarter of 2022, Ecobank Plc has recorded a profit before tax of N59.734 billion, which reflects a 2 per cent increase compared to the N58.351 billion recorded during the same period of 2021.

During the period under review, the company recorded an interest income of N168.6 billion, a 4 per cent increase from N162.4 billion recorded in the same period of 2021.

The company's operating income also grew from N181.3 billion in 2021 to N191.04 billion in the corresponding period of 2022 which indicates a 5 per cent increase

For the third quarter of 2022, the company recorded operating expenses of N108.5 billion, a 4 per cent increase when compared to N104.1 billion recorded in the same period of 2021