Ecobank Transnational Incorporation (ETI) recorded an all-time high gross earnings of USD2.34bn which translates to 5.74% YoY growth (or NGN956.39bn: +13.70% YoY) in 2021FY. This came on the back of an uptick in both interest and non-interest income. Contributing the most to the group’s topline was the Francophone region (UEMOA: 31.82%), while Ecobank Nigeria’s contribution was 12.69%. The performance of the group’s interest income (+13.58% YoY to NGN603.37bn) was hinged on growth in interest on customer loans and investment securities during the period. Interest on treasury instruments was the only underperformer, recording a 4.12% YoY decline, although its overall impact was insignificant. Expansion in fees-based revenue (+26.25% YoY) resulting from significant increase in transaction volumes across digital channels was the major catalyst for the improvement in non-interest income.
