Ecobank Group sets growth targets for 2013

Togo-based lender Ecobank Group has outlined its growth targets for the year 2013.

The bank is poised to record a deposit growth of 20%, ½ deposit of loan growth and a revenue growth of 15% all for 2013.

Ecobank also eyes a cost-to-income ratio of low to be 70% during the year, adding that the Group is targeting a Cost-to-Income ratio of below 60% for 2015.

The Group made the announcement when the Bank held its inaugural ‘Capital Markets Day’ at its headquarters in Lomé on Friday January 18, 2013.

The event aimed to introduce Ecobank’s senior management to an audience of major shareholders and research analysts, and provided detailed insights into the Group’s current operations and its strategic objectives going forward.

By focusing on its strategic priorities of customer service, shareholder value and becoming an employer of choice, Ecobank believes “these targets are achievable as it continues its mission of building a world class pan-African bank”, it said.

By Ekow Quandzie