Ecobank Plc reports 2% increase in Q2 2022 profit before tax

Ecobank Plc has released its 2022 Q3 results reporting a profit before tax of N59.734 billion, a 2% increase from the N58.351 billion the company reported during the same period in 2021.

The pofit after tax, however, dipped -4%, coming in at N40.1 billion, down from N41.9 billion recorded in the corresponding period of 2021.

The company’s interest income came in at N168.6 billion for the period, up 4% from N162.4 billion recorded in the same period of 2021.

Others highlights of the results are as follows:

Operating income
2022 Q3: N191.04 billion
2021 Q3: N181.3 billion
Change: +5%

Operating expenses
2022 Q3: N108.5 billion
2021 Q3: N 104,1 billion
Change: +4%

Pre-tax profit
2022 Q3: N59.7 billion
2021 Q3: N58,4 billion
Change: +2%

Net Profit after tax
2022 Q3: N40.1 billion
2021 Q3: N41.9 billion
Change: -4%