Pan-African banking group Ecobank says 2014 pretax profit up 144 pct

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LAGOS, – Pan-African banking group Ecobank said on Monday its 2014 pretax profit rose 144 percent year-on-year to 86.44 billion naira ($434 million).

Revenue also rose to 489.25 billion naira 411.18 billion naira the previous year, the bank said a statement, and also proposed a bonus issue of one for every five shares. The bank did give a reason for the increase in earnings.

($1 = 198.95 naira) (Reporting by Oludare Mayowa; Editing by James Macharia)


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