By InvestAdvocate

Lagos (INVESTADVOCATE)- Pan-African lender, Ecobank Transnational Incorporated (ETI) said on Wednesday its pretax profit for the first quarter (Q1) period ended March 31, 2016 went down 32.4 percent to N20.63 billion from N30.52 billion recorded a year earlier.

Similarly, profit after tax (PAT) declined 33.8 percent to N16.21 billion from N24.47 billion declared the same period of 2015.

Gross earnings of Bank dropped from N136.22 billion to N131.37 billion in the review period of 2016; showing a decline of 3.6 percent, the pan-Africa lender said in a filing with the Nigerian Stock Exchange (NSE).

Shares of ETI at the close of Thursday’s trading on the Nigerian bourse depreciated 0.22 percent to N13.87 from N13.90 traded the previous session; gaining 0.03 kobo per share.

Click here to view Ecobank Transnational Incorporated First Quarter 2016 Report