The parent company of Ecobank Ghana, Ecobank Transnational Incorporated (ETI), has proposed a dividend payout of $28.0 million to its shareholders for the year 2022.
This amounts to $0.11 for each ordinary share. The Group Chairman, Alain Nkontchou, said the Group made significant progress in 2022 despite the challenging operating environment. “We achieved the highest group return on tangible equity in the last ten years, at 21.1%.
Our financial results for 2022 were robust”. The group’s net revenues rose by 6% to $1.862 billion and its profit before tax grew by 13% to $540 million. The profit attributable to ETI shareholders was $286 million, a 9% increase from $262 million in the previous year, leading to higher diluted earnings per share of 1.16 US dollar cents, compared to 1.06 US dollar cents in 2021.
The Group Chairman also said the bank’s balance sheet is well-capitalised and liquid. As of December 2022, its Tier 1 capital ratio was 10.2%, versus 10.7% in December 2021, and its total CAR was 14.2%, compared to 14.8% in 2021.