Ecobank Nigeria chief canvasses use of artificial intelligence to curb security threats

Ecobank Nigeria Managing Director, Patrick Akinwuntan has advocated the use of artificial intelligence (AI) to predict security threats and proffer solutions. Akinwuntan who made this assertion at a webinar themed, “Cyber threat Landscape: Financial services, 2021 and beyond.”organised by Information Security Society of Africa, Nigeria (ISSAN) said as cyber-attacks continue to grow in intensity... Read More

Ecobank Group posts 9% growth in revenue to N642 Bln in 2020 FY

Ecobank Group has recorded a revenue of N641.8 billion for the year ended December 31, 2020, representing nine percent increase compared with N586.9 posted in the corresponding period of 2019. In its audited report submitted to the Nigeria Exchange Limited on Tuesday, the pan-African bank also recorded superlative performance in other key financial indices... Read More

Nigeria’s Ecobank lists $300 mln 5-year bonds on London Stock Exchange

Ecobank Nigeria on Thursday listed its $300 million five-year fixed rate senior unsecured on the London Stock Exchange (LSE) at a virtual ceremony. The bond carries a coupon rate of 7.125 percent, significantly below its Initial Price Thoughts of 7.75 percent. The successful launch was three times oversubscribed and is the lowest coupon/yield by... Read More

Fitch Ratings assigns Stable Outlook, Viability Rating to Ecobank Nigeria

Fitch Ratings has assigned Ecobank Nigeria Limited a Long-Term Issuer Default Rating (IDR) of ‘B-‘ with a Stable Outlook, Viability Rating (VR) of ‘b-‘ and National Long-Term Rating of ‘BBB (nga)’. The report, released Thursday, noted that Ecobank Nigeria IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR).  The... Read More

Nigeria’s Ecobank to target MSMEs with N50 bln 10-year bilateral credit ~CEO

Ecobank Nigeria on Wednesday said it plans to target Micro, Small and medium scale enterprises (MSMEs) and small corporates in the country with the N50 billion bilateral credit it secured recently. Managing director of the bank, Patrick Akinwuntan has said the fund will deploy to further generate and bolster activities in the sector thereby... Read More

Ecobank Nigeria gets N50 bln 10-year bilateral loan to boost balance sheet

By Samuel Bankole   Ecobank Nigeria has secured N50 billion in 10-Year bilateral subordinated loan to help boost the lender’s capital adequacy ratio by 300 basis points. In a regulatory filing with the Nigerian Stock Exchange (NSE), the West Africa banking group, Ecobank Transnational Incorporated (ETI) said the loan will also provide medium-term liquidity... Read More

Ecobank among top three in customer service support to SMEs – KPMG

KPMG Nigeria has ranked Ecobank Nigeria among the top three banks with good customer experience in the Small and Medium Enterprises (SME) segment. KPMG’s Nigeria banking industry customer experience survey measures the performance of lenders in the country in terms of their relationship with their account holders and other users of financial services. The... Read More

Nigeria financial institutions are Pivotal to Success of AfCFTA~Ecobank

The success of the African Continental Free Trade Area (AfCFTA) will rely heavily on the financial services industry’s ability to facilitate the liberalization process, according to the Managing Director of Ecobank Nigeria, Patrick Akinwuntan. Akinwuntan said this at a webinar titled: Exploring Nigeria’s Readiness for the African Continental Free Trade Area organized by Deloitte.... Read More

Ecobank Nigeria says ready to comply with diaspora remittance policy

Ecobank Nigeria has assured its customers that it will put the necessary processes in place to ensure compliance with the new Central Bank of Nigeria (CBN) on diaspora remittances. The CBN had on Monday issued circular directing banks to allow beneficiaries/recipients of diaspora remittances to have their money in dollar, local currency or paid... Read More

Ecobank Nigeria launches SMEs agency banking campaign

Ecobank Nigeria has launched Smart Small And Medium Enterprise (SME) Agency Banking campaign targeted at empowering 100,000 entrepreneurs under the bank SME and Agency Banking proposition. Emeka Agada, Head of SME, Ecobank Nigeria, said the initiative was introduced in line with the bank’s commitment to support the Federal Government and Central Bank Of Nigeria’s... Read More