The Latest

Ecobank Reports USD 408 Million In Profit For The First Nine Months Of 2014

October 30, 2014
1 minute read

Ecobank Transnational Inc. (NSE: ETI, GSE: ETI; BRVM: ETIT), the parent company of the pan-African banking Group present in 36 African countries including Tanzania reported its unaudited financial results for the nine months ended 30 September 2014.

According to the report pre-tax profit reached USD 408 million, up 35% from the prior year while profit after tax reached 324 million, up 28% from the prior year.

Basic earnings per share stands at USD 1.59, an increase of 26% from USD 1.26 in 2013.

Tanzania Investment Guide 2026 Free Edition

Commenting on these results, Group CEO Albert Essien said: “Our strong results for the first nine months of 2014 show solid revenue growth and a further reduction in our cost-income ratio. Our capital position has been significantly enhanced with the conversion of USD 75 million of loans by IFC funds in the third quarter and Nedbank’s subsequent investment of USD 493 million to reach a 20% shareholding in Ecobank, a welcome deepening of our long-established alliance. We are also pleased to have Qatar National Bank as a new shareholder and look forward to developing mutual business opportunities in the Gulf and North Africa region.”

Ecobank started operations in Tanzania in January 2010 and has since grown to include 12 branches across the country.

Follow the link to access Ecobank Ecobank financial results for the nine months ended 30 September 2014: http://tanzaniainvest.com/downloads/Ecobank-Group-9-Months-2014-financial-results.pdf

Want to know more about Banking in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers Banking, plus key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources.

Download Free OverviewGet the Full Guide
Tweet
Share
Share
Share
Related Posts
Axian Acquisition Letshego Bank Tanzania
Read More

Yas Owner Axian To Acquire 100% Of Tanzanian Lender Letshego Faidika Bank

Axian, the group behind Yas mobile operator, is acquiring 100% of Letshego Faidika Bank Tanzania, a licensed Tier II commercial bank, with the transaction now under review by the country's Fair Competition Commission. The deal forms part of Letshego Africa Holdings' disposal of its Ghana, Tanzania, Nigeria, Rwanda and Uganda subsidiaries agreed on 27 April 2026, and would add a banking licence to a group that already operates the country's second-largest mobile money service.
Central Bank of Tanzania BOT CBR Interest Rate Q3 2026
Read More

BOT Raises Tanzania Central Bank Rate to 6.25% for Q3 2026; GDP Growth Estimated at 6% in H1 2026, Driven by Agriculture, Construction, Mining, and Tourism

The Bank of Tanzania (BOT) released its Monetary Policy Committee Statement of July 2026, in which it indicates that the MPC decided to raise the Central Bank Rate (CBR) from 5.75% to 6.25% for the third quarter of 2026. The decision aims to contain inflation driven by high energy, fertilizer, and transportation costs linked to the geopolitical conflict in the Middle East.
Bank of Tanzania Financial Stability Index 2014-2025
Read More

Tanzania Banking Assets Up 23.8%, Capital Markets Up 35.1%, Social Security Up 21.4%, Insurance Up 6.8% in 2025

The Bank of Tanzania Financial Stability Report for 2025 shows banking sector total assets grew 23.8% to TZS 76,975 billion, private sector credit expanded 23.5% with mining up 30.1% and trade up 29.4%, and the non-performing loans ratio fell to 2.8%, the lowest in the East African Community. Total capital market investment rose 35.1% to TZS 63,096.4 billion, social security assets grew 21.4% to TZS 25,921 billion, insurance assets rose 6.8% to TZS 2,633.6 billion, and foreign reserves stood at USD 6,312 million covering 5.2 months of imports.
Central Bank of Tanzania BOT CBR Interest Rate Q2 2026
Read More

BOT Keeps Tanzania Central Bank Rate at 5.75% for Q2 2026; GDP Growth Reached 6.2% in Q1 2026, Driven by Construction, Agriculture, Financial Services, and Tourism

The Bank of Tanzania (BOT) recently released its Monetary Policy Report of April 2026, in which it indicates that the Monetary Policy Committee (MPC) decided to keep the Central Bank Rate (CBR) at 5.75% in Q2 2026. The decision reflects a cautious policy stance aimed at balancing the risks to inflation and economic growth outlook, in the face of the current unprecedented geopolitical tensions in the Middle East.

Want to know more about investing in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers the economy, key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources.

Download Free Overview Get the Full Guide