Ecobank declares GHC782m profit, pays GHC177 m in dividends

Ecobank Ghana has declared a profit before tax of GHC782 million for the year 2020, on the back of which it is paying 55 Ghana pesewas dividend per share to shareholders this year.

Per the dividend per share, the total amount to be paid out in dividends on June 25, 2021 is over GHC177.6 million.

Payment of dividend this year is refreshing as the bank failed to pay dividend for the two previous years running.

The profit declared is the highest for the entire banking industry for the year, indicating Ecobank’s resilience and robustness amid the hard-hitting COVID-19 pandemic.

Ecobank also ended the year with a total income of GHC1.8 billion with its total equity standing at GHC2.4 billion for the year.

Board Chairman Terrence Roland Darko made the declaration at the ongoing first virtual AGM of the bank.