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Tag: Ecobank

  • Ecobank Group Announces N143.7bn Profit Before Tax in 9 Months

    Ecobank Group Announces N143.7bn Profit Before Tax in 9 Months

    Ecobank Transnational Incorporated (ETI) has announced N143.7 billion profit before tax in its audited nine months ended September 30, 2021, an increase of about 316 per cent from N34.5billion reported in nine months ended September 30, 2020. By the results filed with the Nigerian Exchange Limited (NGX), the bank triple-digit growth has resulted in earnings per share of over N3.01 kobo during the period under review.

    Profit after tax also grew by 916 per cent to N104.51billiion from N10.28billion reported in prior nine months of 2020. Growth in gross earnings, net investment income, Other operating income and decline in operating expenses were major financial parameters that contributed to the Group’s significant increase in profits amid macro economy challenges where it has branches.

    Gross Earnings for the period grew by 12 per cent to N686.8billion from N614.5billlion reported in 2020. As net investment income rose by 523 per cent to N5.56billion from loss of N1.3billion in 2020; Other operating income closed at N11.59billion from N3.3billion reported in 2020. The group’s total assets grew by five per cent to N10.9trillion as at September 30, 2021 from N10.38trillion in full year ended December 31, 2020.

    In his comment, Group CEO, Ecobank, Ade Ayeyemi said: “We reported strong results, reflecting the continued diligence of Ecobankers in putting our customers first and ensuring that we meet their respective needs.

    “For the nine months period up to September 2021, we earned $352 million in pre-tax profit, a 41per cent increase compared to the prior year and revenues of $1.3 billion, a four per cent growth. Hence return on tangible equity increased to 17.9per cent, and we grew the per-share value of our shareholders’ equity by 11per cent to 5.52 US dollar cents.

    “These results also demonstrate the hard work invested in driving efficiency in all our businesses in line with our deliberate focus on driving down our cost-to serve, sustain improvement in the quality of our credit portfolio, and strengthen liquidity and capital buffers.”

    “As a result, our cost-to-income ratio has been declining consistently quarter on quarter, currently 58.3 per cent. In addition, the stock of nonperforming loans as a percentage of loans outstanding is now at 6.9 per cent compared to 9.9per cent a year ago. We have boosted the firm’s liquidity profile, thanks to growing customer deposits fueled by an acceleration in digital channel adoption, partnerships with Fintechs, Telcos, and businesses in the Payments Ecosystem,” Ayeyemi added.

    “Finally, we continue to invest in new digital and mobile capabilities to enhance customer experience, alongside the investments we are making in our people, processes, and controls, to ensure the continued resilience of our business and service delivery to our clients. I am deeply grateful to all our customers and the Ecobank team for the remarkable job,” Ayeyemi added.

  • Ecobank Mobile App Enables Super Easy Banking 24/7, Available In 33 African Countries

    Ecobank Mobile App Enables Super Easy Banking 24/7, Available In 33 African Countries

    “The revamped Ecobank Mobile app makes it super easy to bank on the go 24/7; it enables customers manage their everyday banking needs anywhere anytime directly from their mobile device. The ubiquitous mobile app helps a customer manages his / heraccount, send money, make payments and get help from the Ecobank mobile app in all 33 African countries where Ecobank is present. The mobile app is secure and reliable and super convenient and available to everyone”, says, Babajide Sipe, Head Marketing and Corporate Communications, Ecobank Nigeria in a chat with the media in Lagos.

    Speaking further on the uniqueness of the Ecobank mobile app, Sipe said it is different from most local bank apps in Nigeria, stated that via the app, Ecobank customers are able to send money instantly to the 33 African countries where Ecobank is present; transfer money between personal accounts; transfer money to other bank accounts both domestic and international; transfer to a mobile money wallet in the same country; transfer money by email and SMS in same country; and send money to Visa card holders with Visa Direct.

    Other unique features according to him, include, ability “to view all one’s accounts balances and transaction history; open an Xpress Account; create and fund a Virtual card; set travel notifications for enhanced card security; block and unblock one’s bank card; attach other bank cards for transactions; as well as being able to add one’s banking profiles from different countries.

    On the payment side, Ecobank customers are able to “pay bills; buy airtime and data; pay merchants via QR with EcobankPay; split payments with other Ecobank mobile app users; place a standing order for future payment and do cardless withdrawal from an ATMs using Xpress Cash.

    He encouraged Nigerians to download the app for first hand experience, especially during the yuletide for easy banking services both locally and across Africa, emphasizing that with the revamped app, customers do not need to carry cash for shopping, adding that there is no account fees or paperwork and it is super convenient and an Instant and easy mobile banking. He pointed out that users of the Mobile app can easily access help and solutions by chatting with RAFIKI on Face book for questions and support or locate nearest branches and ATMs.

    Ecobank Nigeria Ltd. is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing and Dubai). EcobankNigeria is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.

    Ecobank is a major player in the distribution of financial services in Nigeria, leveraging digital platforms including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and about 20,000 agency banking locations.

  • Lagos State Governor Unveils Ecobank Pan African Centre, Lauds Bank’s Smart Building Initiative

    Lagos State Governor Unveils Ecobank Pan African Centre, Lauds Bank’s Smart Building Initiative

    Lagos State governor, Babajide Sanwo-Olu has said the new ultra-modern Ecobank Nigeria head office, the Ecobank Pan African Centre (EPAC) has a strong connection that will enhance the state’s Smart City Project and modernize infrastructure within the metropolis. The governor who was speaking during the commissioning of the office complex in Lagos lauded the management of the Pan African bank for the vision behind the project as it is redefining building and infrastructure development in the state, stressing that the building meets the various vital parameter such as latest energy-efficient technology, environmental sustainability, sparkling ambience and state-of-the-art amenities that will further enhance staff sustainability and service delivery.

    He expressed excitement over the state-of-the-art facilities at the complex, noting that “This Pan African center is indeed an intelligent building designed with energy efficiency and is one of the things we need in Nigeria. I know that this building will speak to a lot of the very best. It is a state-of-the-art building focused on environmental sustainability and I am sure that from what I have seen around, it is a redefining building and infrastructural development.”

    Governor Babajide Sanwo-Olu reiterated that Lagos State will continue to create an environment that enhances and improve the efficiency of business and attract foreign direct investment. “The government of Lagos state is happy to let us know that we are building one of the audacious and vibrant infrastructure in the whole of Africa. You know that we are currently deploying over 3000 km of fiber connectivity to support businesses that require low-cost connectivity. We will continue to create enabling environment for you.”While lauding Ecobank management for its sustained attainments of the bank over the years, he urged them to continue to attract the underbanked to the banking space.

    Welcoming guests, Chairman, Ecobank Nigeria, Bola Adesola said the Centre is a dream come true, noting that it is a tribute to the vision of the founding fathers in creating a world class Pan-African Banking group and providing excellent financial services across Africa. She said the Centre with sparkling ambience, boasts of state-of-the-art amenities, houses smart offices, a restaurant, multipurpose conference hall, gym, creche, parking lot that can accommodate 130 vehicles at a time, experience and game centre and a rooftop terrace, among others, stating it is targeted to further enhance productivity and service delivery to customers.

    Also speaking, Group Chief Executive, Ecobank Transnational Incorporation (ETI), Ade Ayeyemi said EPAC is an important milestone as it consolidates achievements of several years of the company. According to him, “The office complex brings together our staff. It is a testament to the effort of the people that has come before us. It allows us to be able to create a new working environment where our staff can attend to customers and our customers can do business in the smart working environment. We can bring all our staff to one location instead of distributing them across multiple locations.”

    Talking about the uniqueness of Ecobank brand, Managing Director, Ecobank Nigeria, Patrick Akinwuntan said the vision of the founding founders was to build a pan African centre, stressing that the bank is presently in 35 countries of Africa.
    According to him, “In Nigeria, we are a major player in the financial industry. Recall we launched the first international credit card in the history of banking in Nigeria, the Ecobank Master card and Visa card in 2004. We are also a pioneer in mobile banking, *326# was one of the first mobile banking platform approved.

    “In this era of AFCTA where Africa aims at operating as one market. This Pan African Centre has opened its doors to all SMEs, businesses and individuals seeking to expand their transactions across Africa. We are the go-to bank for trade, payment, and collection in Africa because we have one pan African switch to make instant payment across Africa. The way you see Nigerian Interbank Settlement System (NIBSS) transfer within Nigeria is the way Ecobank is across Africa. Our mobile app is one bank that has 33 countries on it.” He stated.

  • Ecobank Nigeria To Launch Bespoke Women Empowerment Initiative, Ellevate

    Ecobank Nigeria To Launch Bespoke Women Empowerment Initiative, Ellevate

    All is set for the launch of “Ellevate”, a bespoke women empowerment proposition of the Ecobank Group. Ellevate is targeted at empowering women-owned, and women-focused businesses in Nigeria.

    Executive Director, Commercial Banking, Carol Oyedeji said the initiative which is scheduled for launch on July 7, 2021 in Lagos (Registration link https://bit.ly/3hDPHkT ), is specially designed for women in business, and businesses with a high percentage of female executives or employees. The programme also targets manufacturers of products used by women. Ellevate is an initiative of the Ecobank Group which is being launched in the 33 African countries where it operates. Its launch underscores the bank’s commitment to empowering women by providing the platforms and opportunities for them to thrive. Ecobank understands that women’s needs are unique and has put in place the appropriate resources to meet those needs.

    “With Ellevate, we recognise and acknowledge the critical role of women in the society. Ellevate offers women-owned businesses a wide reaching suite of solutions, incorporating smarter money management, discounted financing and value-added services to deliver, that female entrepreneurs need at the right time. We will work with the private sector and other interest groups to realise this. Ellevate offers end-to-end, differentiated business solutions, financial support, advisory services and networking opportunities for businesses in Nigeria that are managed and owned by women. In developing Ellevate, Ecobank took into consideration what women require from their bankers and successfully came up with pragmatic solutions that will help bridge identified gaps”. She stated.

    Further, she said Ecobank Nigeria remains a women friendly bank, that has many initiatives and innovative products targeted at empowering female entrepreneurs. One of these is the Ecobank Female Entrepreneurs’ Initiative (EFEI), a platform designed to empower and support women owned small-scale businesses. In addition, there are business loans for SMEs, inventory finance for key distributors, shop owner’s facility for traders, purchase order and invoice discounting, asset finance and agriculture finance among other laudable offerings.

    The Special Guest of Honour expected at the Ellevate launch is the Managing Director, Development Bank of Nigeria, Mr. Tony Okpanachi; the Panelists are: Founder, Health Africa, Fola Laoye; Founder, Braveline Growth Partners, Taba Peterside and Founder of Ruff n Tumble, Nike Ogunlesi. While the moderator is Tolulope Babajide, the Innovations and Partnerships Advisor on (Nigeria for Women Project), A World Bank-supported project.

    Ecobank Nigeria Ltd. is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing and Dubai). Ecobank Nigeria is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Ecobank is a major player in the distribution of financial services in Nigeria, leveraging digital platforms and an extensive network of over 250 branches and more than 30, 000 agency banking locations (Xpress Points).

  • Female entrepreneurs laud Ecobank’s women empowerment initiatives

    Female entrepreneurs laud Ecobank’s women empowerment initiatives

    Media entrepreneur and popular blogger Linda Ikeji , said she was motivated to partner with Ecobank on her “Selfmade Woman” initiative because of the bank’s various women friendly programmes, stressing that many individuals, especially women who own small businesses are supported by the bank to succeed. “When I conceive the idea of self-made women empowerment conference, Ecobank was the first bank I thought about because I love how much they are into women empowerment. They have a lot of programmes, a lot of platforms internally to help women in business. They are really into helping women reach their full potentials. Fortunately, when I met with them and told them what I wanted to do, they immediately said yes to me, and they have been fully involved and here we are today. Ecobank today is my bank of choice”.

    Linda Ikeji who spoke at the “2021 Selfmade Woman Conference”, her women empowerment initiative testified that Ecobank Nigeria as a female friendly is helping women achieve their dreams and full potentials. On why she initiate the Selfmade Women Conference Linda Ikeji said “I am very passionate about women succeeding and it was very important for me to put something together as a platform where successful women would meet and mentor those aspiring to be successful. My purpose for doing this is to hopefully encourage more women to believe in themselves, encourage more women to fight for their dreams, encourage more women to know that there is absolutely nothing that they can’t achieve. I want them to hear stories of women who have achieved great feats, women who have broken tables and know that it’s possible for them to break through all these barriers, believe in themselves, see people like myself, Tara Durotoye and other women who have done amazingly well. Getting a women friendly bank like Ecobank to partner me is heartwarming”.

    Also speaking, Founder, House of Tara, Tara Fela-Durotoye, applauded Ecobank for supporting women initiatives. She observed that partnering with young women and young entrepreneurs would go a long way to empowering women to play greater role in families.” I appreciate Ecobank’s various empowerment initiatives to support women and we can see the results. My advice to the bank is to sustain the initiatives”. This was the view of several other speakers which included

    In his keynote address, Managing Director, Ecobank Nigeria, Patrick Akinwuntan, said the decision to partner with Linda Ikeji Selfmade Woman Conference aligns with the bank’s empowerment policy for women. He noted that Ecobank recognizes women as the bedrock of most families and entrepreneurship in the society, stating that to succeed as a nation, it is imperative to recognize women’s unique potentials and support them sufficiently. Akinwuntan who was represented by Head, Consumer Banking, Korede Demola-Adeniyi reiterated that Ecobank remains a women friendly bank and have been playing the role, stressing that, the bank has many initiatives and innovative products targeted at empowering female entrepreneurs in the country.

    “We have many women centred empowerment programmes such as the Ecobank Female Entrepreneurs’ Initiative (EFEI) which is designed to empower, and support women owned small-scale businesses. Under this initiative, there is special loan package where prospective female entrepreneurs could easily access credit facility with interest rates as low as 1 per cent. Through EFEI, we have trained many female business owners on digital marketing skills in our state-of-the-art Academy and have also organized capacity building workshop for them. We also have another women empowerment programme “Ellevate” for women in Business; this will be publicly launched across the country in July. With Ellevate, we want to ensure we raise and recognize our women for the significant role they have always played to ensure a better society for us all.” He said.

    Further, the Ecobank Nigeria Managing Director said examples of the bank’s support to women entrepreneur includes “our long-standing partnership with Tera Kulture, that is Bolanle Austen Peters who has come out with various movies such as ‘Bling Lagosians’, ‘Moremi The Musical’, ‘Fela and the Kalakuta Queens,’ ‘The Oluronbi Musical’ and others. Recently, we also supported ‘The Wait’, a movie inspired by the popular book from renowned lawyer and entrepreneur, Yewande Zaccheaus. We are currently working with the Ogun state government to promote the Adire industry which is also primarily women driven. In the agric industry, we have supported the Anchor borrowers programme of the CBN across the six regions of the country to reach out to farmers, especially the women folk to support them financially to increase their farm size and yield capacity through the introduction of new techniques.”

    The 2021 Selfmade Women conference attracted over 3000 female participants both online and at a physical event. The Linda Ikeji Selfmade Woman Conference was borne out of passion to see women succeed. it is a platform for women who want to achieve success to meet those who have already achieved success. The all-female event attracted many speakers and wide audience including potential and established women entrepreneurs, businesswomen and students. The Linda Ikeji Self-Made Woman debuted in 2013, as an advocacy project with the sole aim to mentor and provide financial empowerment to young female entrepreneurs or aspiring ones. it is essentially to build stronger economies and improve the quality of life for women, men, families and communities.

  • Ecobank Nigeria Pledges More Support And Collaboration With Bankers Institute

    Ecobank Nigeria Pledges More Support And Collaboration With Bankers Institute

    Ecobank Nigeria Pledges More Support And Collaboration With Bankers Institute

    The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has pledged more support and collaboration with the Chartered Institute of Bankers of Nigeria (CIBN), the umbrella body of all bank workers in the country. Akinwuntan who was speaking during a courtesy visit by the President and Council members of the Institute to Ecobank Nigeria’s head office in Victoria Island, restated that Ecobank will continue to contribute to the efforts of the Institute to become top class and remain relevant globally. According to him, “For us at Ecobank, we are extremely proud of CIBN’s efforts at ensuring public discourse on the future of the Nigerian economy; this is not in isolation of relevant issues within the banking and finance industry such as ethics, professionalism, accountability, transparency, good corporate governance and harnessing the opportunities technology has provided in the new world order. Be assured of our maximum support and collaboration at all times”.

    The Managing Director also identified with the efforts of CIBN to raise the bar of competency and capacity building in the industry, stressing that with sound professional conduct, every banker would be held in high esteem. He said Ecobank is working assiduously to ensure majority of Ecobank Nigeria staff become members of the Institute, adding that the bank will also provide more mentees and mentors in its mentorship programme. “We are working on a medium to long term programme to ensure all Ecobank Nigeria staff become chartered members of the Institute. At Ecobank, we take human capacity development very seriously. Some of our staff that wrote the last examinations are now chartered members of the Institute”. He stated.

    Earlier in his address, the President/Chairman, CIBN, Bayo Olugbemi commended Ecobank’s consistent support for the Institute to ensure the realization of the Institute’s mandate of determining the standards of knowledge and skills to be attained by persons seeking to become members of the banking profession.

    In particular, he conveyed the gratitude of the institute to the bank for the various local and international recognitions and awards garnered over the years. He observed that Mr. Akinwuntan has made immense contributions to the growth of the Institute.

    He disclosed that the visit was to share with Ecobank Nigeria’s management, the Institute’s strategic initiatives with the acronym A-TEAM; explaining it as “A- Accelerated Development, T- Technology and Digital Enhancement, E- Engagement for Growth, A- Accountability and Transparent Leadership and M- Membership Drive for Value.”

    He solicited Ecobank’s support and collaboration in its proposed amendment of the CIBN Act No. 5 of 2007; compliance of the Bank’s staff for mandatory registration with the Institute, urging the Management of the bank to ensure staff enroll and become Chartered Bankers and also participate in its Internship Scheme by accepting students of linkage institutions who are members of CIBN as interns.
    “We also solicit Ecobank to enlist in our Endowment/Prize Awards in any subject of interest in its name or personal capacity; donate towards the renovation of Abuja Bankers’ House; support the establishment of banking museum by donating artefacts and other relevant materials; participate actively in training programmes of the Institute, regular impact assessments and satisfaction surveys for the institute’s respective initiatives, which are targeted at improving quality service delivery and to identify gaps where necessary.”

  • Ecobank To Pay Customers N5 For Every Dollar Received

    Ecobank To Pay Customers N5 For Every Dollar Received

    Ecobank has commenced implementing the CBN scheme which offers N5 for every Dollar received into domiciliary accounts or as cash over the counter. Korede Demola-Adeniyi; Head, Consumer Banking, Ecobank Nigeria, who announced this in Lagos stated that the decision is in line with the CBN directive and fully aligns with efforts to encourage the inflow of diaspora remittances into the country. She noted that the “CBN Naira 4 dollar scheme” is an unprecedented incentive for senders and recipients of international money transfers.

    Korede Demola-Adeniyi said that the scheme takes effect from 8th March and will run till 8th May, 2021. “Ecobank will pay N5 on every Dollar so beneficiaries will not only get the foreign currency sent from their family and friends abroad, they will also get extra Naira”, she stated.

    Only recently, Ecobank had a first of its kind virtual Diaspora Summit to discuss opportunities for Nigerians living abroad and the various platforms available to assist them with their investment decisions and remittance needs. The event had major players in the remittance space, diaspora audience, government officials and notable stakeholders in attendance.

    Further, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan has disclosed that apart from consistent engagement with Nigerians in the diaspora, Ecobank is leveraging its digital technology to make remittances to Nigeria and Africa easy, convenient and affordable.

    Mr. Akinwuntan stated that growing evidence has shown a positive relationship between diaspora remittances and economic growth. “Ecobank will continue to pursue its mandate of helping to enhance the economic development and integration of Africa, through the 33 countries where the bank operates on the continent. Ecobank’s Rapidtransfer and mobile app (Ecobank Mobile) enable Africans, wherever they are, to easily and instantly send money to bank accounts, mobile wallets and agent locations across 33 African countries”, he stated.

  • Ecobank Nigeria Announces $300m Bond Pricing

    Ecobank Nigeria Announces $300m Bond Pricing

    Ecobank Nigeria announced that it has successfully priced its $300 million bond issuance maturing in February 2026, with settlement of the debt instrument to take place on February 16, 2021.

    According to a statement from the bank, the fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange.

    It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S & P.

    It explained that the coupon/yield represents the lowest ever coupon/yield achieved by a Nigerian financial institution for a benchmark bond transaction.

    “At the peak of marketing the transaction, the issue was over three times over-subscribed, with significant interest from international investors.

    “The transaction opened with Initial Price Thoughts of 7.75% and finally tightened to close at 7.125% on the back of robust demand. The strength and depth of the book demonstrated global investors’ strong appetite for the Ecobank franchise in Nigeria, a testament to the strength of the Ecobank Group,” it stated.

    It stated that the transaction was the first non-sovereign bond from Africa in 2021, describing it as a milestone capital raise for the banking sector in Nigeria, “giving Ecobank access to global debt capital markets, and more favorable credit terms, commensurate with its strong financial position and robust capital structure.”

    “For international investors, it represented an attractive option to gain exposure to Nigeria,” it added.

    Commenting on the issuance, Managing Director of Ecobank Nigeria, Mr. Patrick Akinwuntan, said: “Despite the challenging global environment owing to the COVID-19 pandemic, and on the back of a successful N50 billion tier-2 issuance in December 2020, Ecobank Nigeria was able to successfully issue and price Nigeria’s first 2021 senior unsecured 5-year bond transaction. “Ecobank Nigeria, through this issuance, is being proactive in optimising its capital structure as it continues to drive its medium term growth strategy of establishing itself as a leading facilitator of pan-Africa and international trade and payments.”

    Akinwuntan added: “I would like to extend my appreciation to our regulators, the Central Bank of Nigeria, for their timely support and continuous guidance, in granting necessary regulatory approvals.”

  • Ecobank makes top three 2020 Customer Experience Leaders

    Ecobank makes top three 2020 Customer Experience Leaders

    Leading audit and professional services company, KPMG Nigeria, has ranked Ecobank Nigeria among the top three banks with good customer experience in the Small and Medium Enterprises (SME) segment.

    KPMG’s Nigeria banking industry customer experience survey measures the performance of lenders in the country in terms of their relationship with their account holders and other users of financial services.

    The 2020 survey covered 15,056 retail customers, 1,856 SMEs and 332 commercial/corporate organisations. Respondents were selected from customers who have interacted with their bank in the last six months.

    According to the report in the SME category, Sterling Bank, Union Bank and Ecobank were top three.

    They were trailed by Zenith Bank and FCMB. Specifically, the report stated that respondents were impressed with the interaction between Ecobank and its customers during the COVID-19 pandemic lockdown, stressing that the bank was able to provide personalized service to its respective customer segments.

    “The remote working arrangements resulting from the COVID-19 pandemic have further constrained banks from catering to this stated need. While many banks struggled with providing dedicated relationship managers to SMEs, other banks quickly adapted by developing “how-to” guides for their relationship managers to navigate client relations during the pandemic. Ecobank, FCMB and Union Bank are rated as the top banks in the delivery of personalised experiences”. The report stated.

    Commenting, Managing Director, Ecobank Nigeria, Patrick Akinwuntan stated the bank’s unwavering commitment to support and sustain the development of Small and Medium Enterprises (SMEs) in all sectors of the economy.

    He reiterated that Ecobank had invested in a robust technology-based model which positioned it to cope with current and future challenges including provision of convenient digital banking services to customers in a seamless manner, adding that the bank will continue to harness and explore the various intervention schemes, funding and trade opportunities for small businesses.

    “We are delighted with this recognition from KPMG. It underscores our commitment to customer-centricity and putting the customer first in all that we do. We provide access to finance and markets to our customers and are the natural choice for ease of payments, trade and distribution within Africa on a real time, 24/7 basis.

    “Our well trained personnel leverage the financial products and services we offer to support SMEs at all times through about 20,000 agency banking locations across the country and our digital platforms namely Ecobank Omnilite, Ecobankmobile, Ecobankpay, EcobankOmniplus, Rapid Transfer amongst others. By utilising these digital offerings, our customers can easily access their bank accounts, make payments, transfer funds, process salaries, have access to credit and carry out other ancillary banking transactions from the comfort of their homes and offices”. Mr Akinwuntan stated.

    The KPMG 2020 Nigeria Banking Industry Customer Experience Survey tagged: The customer in a new reality is the 14th edition. Banks are usually rated in three categories – Retail, SME and Wholesale.

    The researchers asked customers across financial market segments about their experience with their banks based on six pillars of personification, integrity, expectations, time and effort, resolution and empathy.

  • Untitled post 291079

    Ecobank Nigeria has emerged the winner of “Agric Lender of the Year” award at the prestigious Business Day’s Bank and other Financial Institutions Awards (BAFI).

    The bank was winner among other strong contenders to clinch the coveted award over the weekend. According to Publisher of Business Day Newspapers, organisers of the event, Frank Aigbogun, Ecobank emerged winner from more than six strong nominees that were vetted, from which three were selected for the judges’ final choice. He stated that Business Day analysts spent over four weeks assessing the performance of Ecobank and its peers to arrive at its decision. He lauded Ecobank’s support for financing rural farmers for food sufficiency, providing employment, creating awareness to showcase the potentials in the sector and partnering government agencies, local and international development partners to develop the agric sector.

    Receiving the award, Segment Head, Public Sector/AgriBusiness, Mojisola Oguntoyinbo said the award was well deserved, stating that Ecobank has been at the forefront of financing the entire value chain of agriculture thereby supporting the emergence of new entrepreneurs in the sector. According to her, “As a bank, we are glad that our efforts at developing the agriculture sector of our country are being recognised. This is an encouragement that we should step up our support for the national economy.”

    According to her, “Earlier in the year, we announced Agriculture Businesses Finance Scheme which will see us commence the disbursement of agriculture loans to practitioners in different value chains in the sector within the next two years. We have Agric Schemes to support over 70,000 farmers with special loans to increase their capacity and yields in support of the CBN 2020 wet season programme with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN). We are also in partnership with the Nigeria Incentive-based Risk-Sharing System for Agricultural Lending (NIRSAL), the United States Agency for International Development (USAID), the Development Bank of Nigeria (DBN) and other developmental partners to double the amount of credit provided to the agricultural sector over the next two or three years.”

    Ecobank has been actively leveraging entrepreneurship as a strategy to tackle poverty and growing unemployment in Nigeria through the creation of relevant platforms. One of such platforms is the Ecobank Xpress Point, the bank’s Agency Banking proposition which enables Agents carry out financial transactions on behalf of Ecobank and earn commission on transactions processed. Ecobank popularly referred to as the digital bank is also using its various platforms including PoS, Omnilite, Omni, ATM, Mobile banking, Ecobank Mobile app, EcobankPay and Ecobank Online, among others to facilitate ease of transactions for customers.

    The BAFI Awards is adjudged the most rigorous, prestigious and transparent awards programme in the Nigerian financial industry. Since its inception, Business Day has implemented an audit based approach in the evaluation process, meticulously reviewing shortlisted company’s financial reports, commissioned customer perception surveys, and analysts’ opinions to determine winners in the different award categories.