Results & Dividends

ETI Gross Earnings up 14.9% in 2013

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Pan African lender, Ecobank Transnational Incorporated (ETI) on Wednesday reported its gross earnings grew 14.9 percent to N411.183 billion from N357.916 billion for its 2013 audited year end.

Profit before tax (PBT) declined 34 percent from N53.623 billion in 2012 to N35.374 billion in the review period of 2013.

Also, profit after tax (PAT) dropped 48.2 percent from N45.486 billion in 2012 audited year end to N23.570 billion in the review period of 2013.

The share price of the pan-African lender at the close of transactions at the Nigerian bourse gained 35 kobo as it opened N13.15 and closed N13.50.

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