Ecobank records $4,4 billion profit

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The increase in the glass float allowed traders to remove the restriction to exchange bottles at point of purchase.
ECOBANK Zimbabwe recorded an inflation adjusted profit before tax $4,4 billion compared to $2,7 billion in December 2020.

A net monetary loss of $2,6 billion was recorded for the period, reflective of the composition of the bank’s balance sheet that is dominated by monetary assets and liabilities.
“Profit after taxation increased from $1,9 billion in 2020 to $2,5 billion in 2021,” the bank said.
The balance sheet as at December 31, 2021 was $84,8 billion, largely driven by deposit liabilities of $68,8 billion.
“The bank was able to settle all its maturing obligations during the period under review,” it said.

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