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Ecobank Transnational Incorporated (ETI) banks, strong growth in 2018

Ecobank Transnational Incorporated (ETI) banks, strong growth in 2018 Following its general meeting held on April 29, 2019, EBI SA, an international subsidiary of pan-African banking group Ecobank Transnational Incorporated (ETI), announces a strong performance increase for the 2018 financial year. EBI SA posted net banking income of 38.1 million euros and net profit of 8.5 million euros, up 17% and 67% respectively over the 2017 financial year. closing at 548.9 million euros at December 31, 2018 compared to 540.4 million euros at the end of 2017. Note also the very strong increase in loans to customers to 336.8 million euros, up 79%, mainly due to the development of Trade Finance activity. Deposits totaled 109.1 million euros, compared to 84.2 million euros at the end of the previous financial year. Earnings per share amounted to € 0.17 With EBITDA of 24.4 million euros, EBI SA retains its leading position in emerging African FX markets: coverage on the African continent is almost total with 31 currencies traded and a strong presence in developing countries. the CFA zone. In addition, in order to meet the demand of its customers, EBI SA enriched its offer of five new exotic currencies in 2018. The optimization of Trade Finance’s activity was a major challenge during the year: this objective was achieved with revenues of 9.5 million euros at the end of 2018, up 64% compared to 2017 and volumes of 1,093 million euros, up 73% during the same period. Financement’s activity contributed € 2.3 million, down on the previous year due to a more cautious risk-taking strategy. However, activity has picked up since the fourth quarter of 2018. Lastly, Cash Management, which was created at the end of 2016, made good progress over the year and contributes 1.85 million euros to EBI’s revenues.

Ibrahima Diouf, Managing Director of EBI SA, commented: “These very good 2018 results have been achieved thanks to the dedication and professionalism of our teams that I wish to salute here. They also reinforce the strategy put in place since 2016 with both a consolidation of our traditional businesses and the launch of new activities. We will continue and strengthen this dynamic in 2019 with a focus increasingly marked on the international. EBI SA intends to play its full role as a financial interface between Africa and the rest of the world, primarily to support transactions and investments that converge on the continent. With the support of the ETI Group and the Board of Directors, we will also develop our banking services for African diasporas. External financial flows to Africa amounted to $ 179.7 billion in 2017, compared with less than $ 50 billion in the early 2000s, due in particular to the continued rise in remittances, portfolio investment and direct investment. foreigners (FDI), according to the OECD. HER.

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