Eco Bank registers 100 percent growth

By BUSINESS REPORTER ECO Bank Zambia has registered K 0 million profit in the first half of this year managing director, Kola Adeleke has said.

Mr Adeleke said the growth represents about 100 percent from the results recorded over the same period last year.

He said in an interview that the profit line was a testimony that the bank was not only meeting the aspirations of the shareholders but also that of the customers.

Mr Adeleke described this year as good for business and that the total assets have since grown to K2 billion.

He said the trend was expected to continue in the remaining half of the year and that the bank would exceed its targets.

In 2017, the bank processed about 70,000 transactions with a value of over US$ 500 million in Zambia.

“It is has been a very good year for us and we have seen our deposits grow and as we are closing the half year standing at K1.2 billion and our total assets have grown above K2 billion.

“2ur profit grew by percent and we are closing at over K60 million in profit. , will say that so far not only are we meeting our aspiration as a bank, but the aspiration of our shareholders. We have seen more patronage on the bank and we hope to improve, “he said.

He said the business environment was conducive and would lead to business growth this year end.