Ecobank Mali turned in a strong financial performance last year, with a 68% increase in Tier 1 capital, assets up 103% and a record 28% boost in net profits. The bank’s RoE grew to 86.64% from 82.34%, an extraordinarily high level by global standards. The cost-income ratio was held steady at 50%, and the NPL ratio was cut to 13% from 19% of the loan portfolio thanks mainly to a sharp management focus on risk exposure.
The bank made some significant new investments during the year and the strategic emphasis was on increasing revenues from its main business lines. It played a key role in developing some of the country’s major industrial sectors, specifically in telecommunications, oil & gas and gold mining. The bank also engaged its staff in regular training programmes, raising their awareness of developments in the international banking world and improving their customer relationship skills.
To keep ahead of peer competition, Ecobank launched a number of consumer products, such as internet banking, as well as its Carte Régionale EBM, a successful initiative that allows customers to use their credit cards in eight African countries. It refurbished part of its branch network to give customers a more spacious and comfortable environment in which to conduct their banking business. Service quality was considerably improved with the use of state-of-the-art technology, providing rapid and accurate transaction support. Distribution channels were increased through tie-ups with Western Union and others, and the bank obtain ISO certification for some business areas.
