Africa’s Ecobank has injected $64 million into its Nigerian unit after its decision to adopt a different exchange rate for the naira to the one supported by the central bank affected its capital ratio, it reported recently. Ecobank said its board decided in November to adopt a market exchange rate of N364 to the dollar,
Ecobank Transnational Incorporated Plc (ETI) has posted profit after tax of N102.2 billion for the financial year ended December 31, 2018. The financial institution’s results revealed on the Nigerian Stock Exchange (NSE), recently, showed that profit for the year up by 46 per cent to N102.2 billion from 69.7 billion in 2017. The Group’s earnings
