(Business in Cameroon) - As at December 31, 2018, Ecobank Cameroon posted a net result of XAF7.6 billion, an increase by 28% compared to the previous year.
The good performance is backed by operational efficiency with cost savings of more than XAF2.9 billion in 2018 compared to 2017. In addition, the bank has also been able to save costs by strengthening its digital strategy. Operating ratio fell from 56.98% in 2017 to 47.1% in 2018.
The bank says it will continue to strengthen its digital strategy to support its position as a digitalization leader in Cameroon. It hopes to further improve the average return on equity, which increased from 37.2% in 2017 to 40.2% in 2018.
By September 2018, Ecobank Cameroon was already considered the second most profitable subsidiary of the pan-African banking group Ecobank Transnational Incorporated, out of 18 in the Central, Eastern and Southern Africa zone; the first being the Zimbabwean branch.