Ecobank Transnational Incorporation (ETI) has restated its determination to building a stronger and profitable financial institution.
The Group Managing Director, ETI, Ade Ayeyemi who made this disclosure during the Bank’s Facts Behind the Figures presentation at the Nigeria Stock Exchange (NSE) in Lagos on Friday, maintained that the pan African bank has put in place a robust strategy to realize its objective.
According to him, “We are positioning Ecobank for the next phase of growth. Our “Roadmap to Leadership”; strategy will see us ‘clarify portfolios across countries and businesses, maximize value of portfolios, defend leadership positions in West Africa, adding that “specifically, we will also increase market share and improve profitability and return metrics in Nigeria.”‘
Toward this end, the ETI boss said, the Bank has simplified its operating model leading to re-defining business segments and geographical regions, noting that, the Bank would continue to defend its competitive position, explore opportunities for growth, revisit operational strategy in high potential markets and consider constructive exit from low potential markets.
He was optimistic that despite the Bank’s low performance in some financial indices last year, it is now well positioned to generate high returns to meet shareholders’ expectations.
Earlier, the Chief Executive Officer, NSE Oscar N. Onyema, lauded the strategy Ecobank had put in place to achieve its specific and broad objectives,
According to him, the performance of the Bank in key financial indicators in its first quarter 2016 despite the operating environment shows it is on the path to deliver superior returns to its shareholders.
He assured Ecobank of the Exchange’s support in its quest for sustainable value creation for its stakeholders.
ETI operates in 36 African countries. It also has presence in London, Paris, Dubai and Beijing, China. It is listed on three Africa stock exchanges which includes NSE, Ghana Stock Exchange and Bourse Regionale des Valeurs Mobileres SA (BRVM) in Abidjan.
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