Ecobank posts N75.7 bn PAT in Q3 2018

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Ecobank Transnational Incorporated (ETI) released its financial results for the period ended 30th September 2018 on Wednesday, 24th of October, 2018.

The Bank recorded 1.4% growth in Gross Earnings, closing at N572.66 billion from the previous close of N564.72 billion in the Third Quarter of 2017.

Profit Before Tax grew by 38.78% to close at N96.32 billion from N69.41 billion in the third quarter of 2017.

Profit after tax also increased by 30.65%, closing at N75.72 billion from the previous close of N57.95billion in the corresponding period in 2017

The earnings per share for the period under review is N4.13, advancing by 30.65% from the previous EPS of N3.16 in the third quarter of 2017.

With the reference price of N16, the P.E ratio of Ecobank is 3.88x with the earnings yield of 25.79%

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