logoBC
Yaoundé - 19 January 2020 -
Finance

Ecobank Cameroon was Ecobank’s second most profitable branch in Central, Eastern & Southern Africa region, in late September

Ecobank Cameroon was Ecobank’s second most profitable branch in Central, Eastern & Southern Africa region, in late September
  • Comments   -   Tuesday, 30 October 2018 14:28

(Business in Cameroon) - As at 30 September 2018, the Cameroonian subsidiary of the pan-African banking group Ecobank Transnational Incorporated recorded a pre-tax profit of $17.1 million, representing a net result of $16.7 million (about CFA9.3 billion), according to the group's official documents dated 23 October 2018.

This performance makes Ecobank Cameroon, the second most profitable subsidiary of this banking group out of the 18 subsidiaries in the Central, Eastern and Southern Africa (CESA) zone. The first being the Zimbabwean subsidiary with a gross profit before taxes of $37.4 million (nearly CFA21.5 billion) representing over 50% of the total pre-tax profit of all subsidiary in the CESA area. Overall, the subsidiaries reported an estimated pre-tax income of $71.4 million equating to about CFA41.3 billion.

The 18 CESA zone Ecobank branches include Cameroon, Chad, Central African Republic, Congo Brazzaville, Gabon, Equatorial Guinea, Sao Tome and Principe, Kenya, Rwanda, Burundi, Uganda, Tanzania, South Sudan, DR Congo, Zimbabwe, Zambia, Malawi and Mozambique.

Brice R. Mbodiam

cameroon-kuwait-fund-s-active-portfolio-estimated-at-about-xaf20-billion
Currently (January 2020), the active portfolio of the Kuwait Fund in Cameroon includes three projects for an amount of US$35.5 million, or about XAF20...
cameroon-minimum-cocoa-farm-gate-price-drops-to-xaf1-080-per-kilogram
Since December 31, 2019, the farm-gate price per kilogram of cocoa beans in Cameroon's production basins has declined slightly from a high of XAF1,250 to...
cameroon-imposes-20-precautionary-freeze-on-some-administrations-budgets-to-ensure-proper-budget-implementation
Reading through the circular that sets the framework for the implementation of the 2020 Finance bill, it appears that Cameroonian administrations must...
cameroon-50-tons-of-fish-supplied-to-the-population-during-the-2019-holidays-thanks-to-the-agropoles-project
During the 2019 holiday season, the ponds created in Cameroon with the support of the Agropoles project helped provide 50 tons of fish to the...

Mags frontpage


Business in Cameroon n82-83: December 2019-January 2020

CFA: The debate is open in the CEMAC


Cameroon becomes CEMAC’s financial center


Investir au Cameroun n92-93: Decembre 2019-Janvier 2020

Franc CFA : le débat est ouvert en zone CEMAC


Le Cameroun devient la place financière de la CEMAC