Recession Hits Hard On Eco Bank, Set To Shut Down 70 Branches Nationwide (See Details)

Date: 28-04-2017 7:41 am (7 years ago) | Author: kacy lee
- at 28-04-2017 07:41 AM (7 years ago)
Online (f)

Ecobank Nigeria PLC, a local unit of Ecobank Transnational Incorporated might be shutting about 79 of its branches across Nigeria.

The bank has not confirmed nor denied the reports, however, there are serious challenges facing the pan-African lender.

In its recently released full year result for 2016, Ecobank said impairment losses on financial assets which rose by 111% to NGN221 billion compared to NGN105 billion.

The deterioration in its loan books shows that the bank is suffering from the same problem confronting many other banks in Nigeria.

The lingering impairment pile up has increased Ecobank’s total liabilities to NGN5,7 trillion compared to NGN4,1 trillion disclosed in 2015. Total asset at the end of the year also rose by 33% to NGN6,2 trillion compared to NGN4,6 trillion disclosed last year.

Posted: at 28-04-2017 07:41 AM (7 years ago) | Addicted Hero
- Spatacuss at 28-04-2017 07:46 AM (7 years ago)
(m)
ONLY IN 9JA .....  this is happening because no more LOOTERS giving them Billions to hide for them again...
Posted: at 28-04-2017 07:46 AM (7 years ago) | Upcoming
Reply
- Spatacuss at 28-04-2017 07:46 AM (7 years ago)
(m)
ONLY IN 9JA .....  this is happening because no more LOOTERS giving them Billions to hide for them again...
Posted: at 28-04-2017 07:46 AM (7 years ago) | Upcoming
Reply
- Goodluck-just at 28-04-2017 09:13 AM (7 years ago)
(m)
All d looted funds ar now in d farm, suck-away pit, or fire-proof save,,,,,,,,,,,,,, eco, is dis hw ur life is going?Huh??
Posted: at 28-04-2017 09:13 AM (7 years ago) | Gistmaniac
Reply
- Goodluck-just at 28-04-2017 09:14 AM (7 years ago)
(m)
But as for d 79 branches,, dat wil cus anoda recession for d families of dos bank workers ooo,....
Posted: at 28-04-2017 09:14 AM (7 years ago) | Gistmaniac
Reply
- Goodluck-just at 28-04-2017 09:14 AM (7 years ago)
(m)
Oboy dis one is serious oooo......
Posted: at 28-04-2017 09:14 AM (7 years ago) | Gistmaniac
Reply
- Goodluck-just at 28-04-2017 09:16 AM (7 years ago)
(m)
And kison, beneno, gogoman, buncho, morgan1, will still say i shud nt blame this on buhari?Huh?Huh?Huh?Huh?Huh?Huh?
Just look at d situation first...........chai?Huh?Huh?Huh? Buhari.... See wat u hav caused now?Huh?Huh?Huh?Huh???
Posted: at 28-04-2017 09:16 AM (7 years ago) | Gistmaniac
Reply
- Goodluck-just at 28-04-2017 09:17 AM (7 years ago)
(m)
But i tink we need to ask buhari for mor info on dis oo
Posted: at 28-04-2017 09:17 AM (7 years ago) | Gistmaniac
Reply
- Larry28 at 28-04-2017 09:21 AM (7 years ago)
(f)
hmmmm
Posted: at 28-04-2017 09:21 AM (7 years ago) | Hero
Reply
- concentrate at 28-04-2017 09:24 AM (7 years ago)
(m)
If as little as a fraction of the recovered looted fund is injected into some of these banks, it will help keep them in business but all the looted fund they claim to have recovered is no where to be round even the EFCC chairman couldn't account for what has been recovered. Thieves stealing from thieves. This is the change they voted for.
Posted: at 28-04-2017 09:24 AM (7 years ago) | Gistmaniac
Reply
- AmazingMarie at 28-04-2017 10:19 AM (7 years ago)
(f)
hmmm
Posted: at 28-04-2017 10:19 AM (7 years ago) | Hero
Reply
- morgan1 at 28-04-2017 02:32 PM (7 years ago)
(m)
Abeg ooo,,,,,make una take am easy ooo,,,op my moni safe sha???
Posted: at 28-04-2017 02:32 PM (7 years ago) | Hero
Reply
- schmit at 28-04-2017 03:04 PM (7 years ago)
(f)
Naija
Posted: at 28-04-2017 03:04 PM (7 years ago) | Hero
Reply
- crocatum at 28-04-2017 07:13 PM (7 years ago)
(m)
am no longer Eco Other banks be careful
Posted: at 28-04-2017 07:13 PM (7 years ago) | Gistmaniac
Reply
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