Just 6.56% above our forecast (of NGN1.01trn), Ecobank Transnational Incorporated (ETI or “the group”) posted gross earnings of NGN1.08trn in its 2022FY financial scorecard. This represents a growth of 12.93% YoY as revenue crossed the NGN1.00trn mark, enabled by an uplift in all revenue sources. Interest income was higher (+14.45% YoY to NGN690.54bn), driven by higher interest rates on loans, a higher yield on investment securities, and higher stock of risk assets.
