Ecobank Q1’20 Results – Lower loan recoveries mask gains in Nigeria

Nigerian Stock Exchange Forum
Ecobank Transnational Incorporated (ETI) recorded a 19.0% YoY decrease in earnings to $66.0 million in its unaudited Q1’20 result. The decline in earnings largely reflected a 67.0% fall in loan recoveries in the review period. Similarly, lower loan recoveries impacted net impairment losses on financial assets, which rose by 48.0% YoY. Gross Earnings declined by -2.3% to N195bn from N199bn in the previous quarter. Profit before tax declined by 11% to N33bn. Profit after tax… Ecobank Q1’20 Results – Lower loan recoveries mask gains in Nigeria
Source: Ecobank Q1’20 Results – Lower loan recoveries mask gains in Nigeria

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