Ecobank Transnational Incorporated (ETI)

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Thu, 28 Mar 2024

Ecobank Transnational Incorporated (ETI) is a pan African bank holding group with an asset size of USD22.67 billion (March 2015), which was incorporated in 1985. It is the largest pan African banking group with presence in over 35 African countries. The Group also has a licensed operation in Paris and representative offices in Beijing, Dubai, Johannesburg, London and Luanda. The Group has mainly been engaged in aggressive expansion in the past decade via acquisitions and organic expansion. ETI made two strategic acquisitions in 2011 and 2012: the acquisition of Oceanic Bank Plc in Nigeria to become one of the tops in Nigeria and the acquisition of The Trust Bank in Ghana to become the largest bank in Ghana. ETI is now planning to slowdown expansion and focus on consolidation and optimization of its subsidiaries to boost profitability going forward.

  • 1985: Year established
  • 2006: Cross listed on three (3) stock exchanges in Nigeria, Ghana and Cote d’Ivoire.
  • 2008: Raised USD554 million against a target of USD2.50 billion in a hybrid offer that was undersubscribed by 77.8%.
  • 2011: Acquired Oceanic Bank in Nigeria.
  • 2012: Acquired The Trust Bank in Ghana.
  • 2013: A prolonged board room wrangling surfaced in the international media.
  • 2014: Albert Essien replaces Thierry Tanoh as ETI CEO as the board room wrangling comes to an end.
  • 2014: Qatar National Bank (QNB) begins accumulation of ETI shares, initially acquiring 12.5% stake from AMCON.
  • 2014: Nedbank Group acquires a 20% shareholding in ETI.
  • 2015: Announced the appointment of Ade Ayeyemi as GCEO effective September 1, 2015.
  • 2015: A bonus Issue in a ratio of one (1) new share for every fifteen (15) existing shares held.
  • 2015: Ongoing court battle with former GCEO Thierry Tanoh continues.

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Full NameShareShare Percent (%)
   
Nedbank Group Limited 5,242,835,141.92 21.20
Qatar National Bank 4,970,801,243 20.10
IFC (direct and managed funds) 3,486,979,976.46 14.10
PIC (GEPF) 3,338,597,849.81 13.50
Social Security and National Insurance Trust (SSNIT) 964,483,823.28 3.90
Full NameShareShare Percent (%)
   
Nedbank Group Limited 5,242,835,141.92 21.20
Qatar National Bank 4,896,610,179.71 19.80
IFC (direct and managed funds) 3,486,979,976.46 14.10
PIC (GEPF) 3,338,597,849.81 13.50
Social Security and National Insurance Trust (SSNIT) 964,483,823.28 3.90
Full NameShareShare Percent (%)
   
Nedbank Group Limited4,988,488,56520.70
Qatar National Bank4,333,615,04518.00
Government Employees Pension Fund (GEPF)/PIC3,333,333,33313.80
IFC Capitalization (Equity) Fund, L.P1,307,022,3085.40
International Finance Corporation1,259,792,9205.20
Social Security and National Insurance Trust (SSNIT)955,688,9724.00
MOON CAPITAL 549,437,7842.30
IFC ALAC HOLDING COMPANY II556,886,2272.30
AFRICA CAPITALIZATION FUND LTD363,636,3731.50
TAQUANTA ASSET MANAGERS (PTY) LTD260,525,9851.10
Total for Top 20 Shareholders17,908,427,51274.30
Full NameShareShare Percent (%)
   
Nedbank Group Limited4,676,708,03020.70
Qatar National Bank3,922,722,13017.40
Government Employees Pension Fund (PIC)3,125,000,00013.80
IFC Capitalization (Equity) Fund, L.P1,225,333,4145.40
International Finance Corporation1,181,055,8635.20
Social Security and National Insurance Trust895,958,4124.00
IFC ALAC Holding Company II522,080,8382.30
JP Morgan Bank Luxemburg451,246,5052.00
Africa Capitalization Fund Ltd340,909,1001.50
B.I.D.C225,196,0101.00
Total for Top 10 Shareholders16,566,210,30273.40
Industry

Banking

Auditors

Joint Auditors, PricewaterhouseCoopers, Lagos, Nigeria and PricewaterhouseCoopers S.A., Abidjan, Côte d’Ivoire

Secretary

Samuel K. Ayim Group Office 2365, Boulevard du Mono B.P. 3261, Lomé – Togo Tel: (228) 22 21 03 03 (228) 22 21 31 68 Fax: (228) 22 21 51 19 Contact: sayim@ecobank.com

Registrar

GCB Limited Share Registry Department Thorpe Road, High Street P.O. Box 134, Accra – Ghana Tel: (233) 0 302 668 656 Fax: (233) 0 302 668 712 Contact: Kojo Essel, kessel@gcb.com.gh

Solicitors

Registered Office

Head Office: Ecobank Transnational Incorporated 2365, Boulevard du Mono B.P. 3261, Lomé – Togo Tel: (228) 22 21 03 03 / 22 21 31 68 Fax: (228) 22 21 51 19

Subsidiaries

All Ecobank businesses across Africa and the world