Ecobank Nigeria’s Revenue Drops By $46m In 2021

Popular commercial bank, Ecobank Nigeria has announced that its operating income dropped by 17 percent to $223 million in 2021.

The commercial bank also disclosed that its Net Interest Income also dropped from $161 million reported in 2020 to $91 million last year.

Naija News reports that the bank made this known in its 2021 Full Year Financial Statements released on Tuesday.

The bank added that the figure was $46 million lower than the $269 million recorded in 2020.

The lender, however, reduced its operating expenses to $181 million in 2021 compared to $222 million recorded the previous year.

While no mention was made of the Profit After Tax (PAT), EcoBank Profit Before Tax (PBT) rose from $37million posted in 2020 to $57 million last year.

The Group’s profit for the year across its branches in Africa also increased from $88 million in 2020 to $357 million last year.

This article was originally published on Nigeria News