Ecobank Transnational |

Ecobank to Boost Transaction Income to Reduce Lending Focus

LAGOS (Capital Markets in Africa) – Ecobank Transnational Inc., the most geographically diverse African lender, plans to increase revenue from transactions rather than depending on interest from loans, Chief Executive Officer Ade Ayeyemi said. “We’ve been a big lending bank, we are now moving more and more to a big transaction services bank,” he said on the sidelines of the Africa CEO Forum in Abidjan, the commercial capital of Ivory Coast. “You need to be a balanced…

Ecobank’s Ivory Coast Unit Is Said to Plan IPO to Fund Expansion

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – Ecobank Transnational Inc.’s Ivory Coast unit plans to raise 45 billion CFA francs ($79 million) in an initial public offering on West Africa’s regional stock exchange, according to two people familiar with the matter. The share sale will begin by October, pending approval by the regulator, Regional Council for Public Savings and Financial Markets, the people said, asking not to be identified because the information hasn’t been made public. The listing…

Ecobank Tumbles With Shareholder Nedbank After Record Loss

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Pan-African lender Ecobank Transnational Inc. said it made a record pretax loss of $131 million last year, pushing its shares down along with those of Nedbank Group Ltd., its biggest stockholder. Ecobank fell 5 percent to 7.79 naira in Lagos, the lowest since 2009. Nedbank, South Africa’s fourth-largest lender by assets and owner of about one-fifth of Ecobank shares, declined 4.8 percent to 221.45 rand, the most among its local banking peers….