Ecobank Ghana declares ¢27.21m loss in 2022 due to DDEP; to return to profitability in 2023
Ecobank Ghana PLC has declared a record pre-tax loss of ¢27.21 million for 2022, a complete reversal of its pre-tax profit of ¢893.73 million made in 2021.
This the bank said was due to net impairment charges of ¢1.7 billion arising from the debt restructuring by the government.
However, the net interest income grew year-on-year by 63% to ¢2.5billion.
The pan-African bank recorded total revenues of 2.97 billion in 2022, 40.3% higher than the previous year.
Speaking to Joy Business at the Managing Director, Dan Sackey, remained confident of the outlook, indicating that the bank will recover and return to profitability by the end of 2023.
“Looking ahead, I am very optimistic about the future of the bank. I remain confident in our capacity to recover in 2023”.
“The bank will prioritise the rebuilding of its capital base and liquidity buffers. We aim to continue with the delivery of superior return on equity for our valued shareholders”, he said.
Mr. Sackey entreated customers of the bank to be wary of fraudsters within the space.
He maintained that the bank will continue to develop systems to safeguard customers’ data.
“We would like to use this opportunity to educate our clients on the need to keep personal information safe. It is important for customers to keep their pin and account details to prevent fraudsters from having access to these details”, he added
At the Annual General Meeting, the bank did not recommend dividend payments to shareholders for the year.
Source: Ghana News
