By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Pan African lender, Ecobank Transnational Incorporated (ETI) said on Monday it has proposed a 1 for 15 bonus issue to investors of the bank.

According to ETI in its corporate action filed with the Nigerian Stock Exchange (NSE) , closure date of shareholders to benefit from the bonus is  25 to 29 June 2015; while annual general meeting (AGM) date has been scheduled for June 19, 2015 in Dar es Salaam, Tanzania.

A review of the banks audited report for the period ended December 31, 2014 shows that profit for the year increased 165.7 percent to N66.139 billion from N24.890 billion a year ago.

In the same vein, pretax profit grew 144.4 percent to N86.441 billion in 2014 end from N35.374 billion reported the previous year.

Similarly, gross earnings climbed up to N489.25 billion from N411.18 billion declared in 2013; indicating a growth of 19 percent, according to the pan African lender in a filing with the Nigerian Stock Exchange (NSE).

ETI shares rose slightly by 1.95 percent as it opened on the Nigerian bourse on Monday at N2.50 and closed at N2.90 gaining 0.40 kobo.