Ecobank now in 22 countries

Africa’s dominant financial brand, Ecobank Transnational Incorporated now has branches in 22 African countries following the opening of two new subsidiaries in Malawi and Congo-Brazzaville.
With this development, the Ecobank Group no doubt is the clear leader in regional banking on the Africa continent.

While announcing the opening of the new subsidiaries, Ecobank Group’s Chief Executive Officer, Arnold Ekpe, said the development signals further the management’s commitment to bring Ecobank to the citizens of target countries, while opening up the group to meet the challenges of globalization.
He said: “we remain committed to our African roots and to Africa’s development”.

The new subsidiary in Pointe Noire, Congo-Brazzaville is Ecobank’s fifth affiliate in Central Africa and represents an important step towards the bank’s objective of covering the whole region.
However, Ecobank’s acquisition of a majority interest in Loita Bank Malawi, a subsidiary of Loita Capital Partners International, significantly extends the Ecobank’s Group reach to southern Africa markets.
Loita Bank Limited has been a longstanding provider of financial services, specializing in structured finance and trade finance services in Malawi.

According to Ekpe, expanding to Malawi is in line with the bank’s overall objective to expand its operations across middle Africa. He maintained that with its entry into Malawi, the Group is determined to develop Ecobank Malawi into a leading and profitable bank that will play its role in the economic development of that country.

Albert Essien, the Ecobank Regional Director in charge of Eastern and Southern Africa, added that “Ecobank will seek to provide enhanced products and services to its customers in Malawi.’
In addition to Congo-Brazzaville and Malawi, the Group is presently in 20 other countries that include Benin Republic, Burkina-Faso, Cameroon, Cape Verde, Central African Republic, Chad, Côte d’Ivoire, Gambia, Ghana, Guinea-Conakry, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Rwanda, Sao Tome, Senegal, Sierra Leone, and Togo.

Ecobank Transnational Incorporated (ETI) was incorporated in 1985, and remains the parent company of the largest independent regional banking group in Africa. ETI is listed on the Stock Exchanges in Nigeria, Ghana, and the Abidjan Securities: Bourse Régionale des Valeurs Mobilières (BRVM). The Group has over 8,000 employees in over 450 branches in its affiliate countries.

Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organisations, medium, small and micro businesses and individuals.