| Company type | Public Company NSE: EBN |
|---|---|
| Industry | Financial services |
| Founded | 1989 [1] |
| Headquarters | Lagos, Lagos State, Nigeria |
Key people | Bola Adesola Chairman (Nigerian) Bolaji Lawal Managing Director (Nigerian) |
| Products | Loans, savings, investments, debit and credit cards, mortgages |
| Total assets | US$8.1 billion (NGN:1.32 trillion) (2011) |
| Website | ecobank |
Ecobank Nigeria Limited, commonly referred to as Ecobank Nigeria, is a commercial bank in Nigeria. It is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator. [2]
The bank began operations in 1989. It operates as a universal bank, providing wholesale, retail, corporate, investment and transaction banking services to its customers in the Nigerian market. The bank divides its operations into three major divisions: (a) Retail Banking, (b) Wholesale Banking and (c) Treasury & Financial Institutions. The bank also offers capital markets and investment banking services. [3] During the fourth quarter of 2011, Ecobank Nigeria through its parent company Ecobank Transnational Inc. (ETI) acquired 100% of the shareholding in Oceanic Bank, creating the expanded Ecobank Nigeria Limited. [4] As of December 2011 [update] , the expanded Ecobank Nigeria controlled total assets valued at approximately US$8.1 billion (NGN:1.32 trillion), making it one of the five largest banks in Nigeria at the time. [5] At that time the bank had 610 freestanding branches, making it the second-largest bank in the country by branch network. [6]
Ecobank Nigeria is a member of Ecobank, the leading independent pan-African bank, headquartered in Lomé, Togo, with affiliates in West, Central and East Africa. Ecobank, which was established in 1985, has grown to a network of over 1,000 branches, employing over 10,000 people, with offices in 32 countries including Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, the Central African Republic, Chad, the Republic of Congo, the Democratic Republic of Congo, Côte d'Ivoire, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Mali, Malawi, Niger, Nigeria, Rwanda, Sao Tome, Senegal, Sierra Leone, Togo, Uganda, Zambia and Zimbabwe. [7] Ecobank also maintains a banking subsidiary in Paris and representative offices in Johannesburg, Dubai and London. [8]
Ecobank Transnational Inc. (ETI) is the parent company of the Ecobank Group, which includes the following specialized subsidiaries: [9]
The stock of ETI is traded on three African stock exchanges: the Ghana Stock Exchange (GSE), the Nigerian Stock Exchange (NSE) and the BRVM stock exchange in Abidjan, Ivory Coast. [10]
As of December 2011, the expanded Ecobank Nigeria Limited. is projected to have in excess of 600 branches, in all parts of the Federal Republic of Nigeria, following the merger of Oceanic Bank. [11]
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group.
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 33 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers. It also maintains subsidiaries in Eastern and Southern Africa. ETI has an affiliate in France, and representative offices in China, Dubai, South Africa, and the United Kingdom.
GCB Bank Limited formally known as Ghana Commercial Bank is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits. In August 2017, the Bank of Ghana, the nation's central bank, announced that it had approved a Purchase and Assumption transaction with GCB Bank Limited for the transfer of all deposits and selected assets of UT Bank and Capital Bank (Ghana) to GCB Bank Ltd.
First Bank of Nigeria is a multinational bank and financial services company with headquarters in Lagos, Nigeria. First Bank was founded in 1894, by Sir Alfred Jones, but is currently owned by FBN Holdings PLC, which in itself has diversified ownership with over 1.3 million shareholders.
Guaranty Trust Holding Company PLC also known as GTCO PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management and payments services, headquartered in Victoria Island, Lagos, Nigeria. GTCO Plc was created in July 2021 following the corporate reorganization of Guaranty Trust Bank PLC into a Holding Company.
Oceanic Bank International, commonly referred to as Oceanic Bank, was a bank in Nigeria that provided individual, commercial and corporate banking services.
Ecobank Ghana PLC is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. In 2022, the bank retained its position as the largest bank in Ghana in the 2023 Ghana Banking Survey by PricewaterhouseCoopers (PwC). LIMA Partners also named the bank as the biggest bank by total assets in the Ghana Banking Industry Report.
Access Bank Plc, commonly known as Access Bank, is a Nigerian multinational commercial bank, owned by Access Bank Group. It is licensed by the Central Bank of Nigeria, the national banking regulator.
Ecobank Uganda is a bank in Uganda that operates as a commercial bank under a license granted by the Bank of Uganda, the central bank and national banking regulator.
United Bank for Africa Plc (UBA) is a multinational pan-African financial services group headquartered in Lagos Island, Lagos and known as Africa’s Global Bank. It has subsidiaries in 20 African countries and offices in London, Paris and New York. In December 2021, UBA received its banking license to commence operations in the UAE. It is listed as commercial bank by the Central Bank of Nigeria. The shares of stock of the group are listed on the Nigerian Stock Exchange, where they trade under the symbol: UBA. The Group Chairman of the bank is Tony Elumelu and the GMD/CEO is Oliver Alawuba.
Access Bank Group is a financial services conglomerate, headquartered in Nigeria, with subsidiaries in the Democratic Republic of the Congo, Ghana, Kenya, Nigeria, Rwanda, The Gambia, Guinea, Cameroon, Sierra Leone, Mozambique, Botswana, South Africa, Zambia, France and the United Kingdom. The group also maintains representative offices in China, India, Lebanon and United Arab Emirates.
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
Ecobank Zimbabwe Limited (EZW), is a commercial bank in Zimbabwe. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe and a subsidiary of Togo-based Ecobank.
NCBA Group Plc, is a financial services conglomerate in East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast.
Bank of Africa Ghana Limited, also referred to as BOA Ghana, is a commercial bank in Ghana. It is one of the commercial banks licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator. the bank has 33 branches in 2015.
Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries in Banking, Stock Brokerage, Investment Advisory, Asset Management, Investor Services, Pension Management, Trustees Insurance Brokerage and life Insurance businesses. The company's newly opened corporate headquarters, Stanbic IBTC Towers, is situated at Walter Carrington Crescent, Victoria Island, Lagos. Stanbic IBTC Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. Standard Bank is Africa's largest banking group ranked by assets and earnings, operations in 20 African countries and 13 countries outside Africa.
Ecobank Kenya is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the central bank and national banking regulator.
Ecobank Rwanda, whose full name is Ecobank Rwanda Limited, formerly Bank of Commerce, Development and Industry (BCDI), is a commercial bank in Rwanda, licensed and supervised by the National Bank of Rwanda, the central bank and national banking regulator.
Jeremy Awori, is the Group CEO of Ecobank Transnational, effective 1 March 2023. He replaced Ade Ayeyemi, from Nigeria, who retired, having attained the retirement of age of 60. Awori is based in Lomé, Togo.
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