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Ecobank Victoria Island Lagos, Nigeria


Business Directory » Banking / Finance » Banks
Lagos

History

ETI, a public limited liability company, was established as a bank holding company in 1985 under a private sector initiative spearheaded by the Federation of West African Chambers of Commerce and Industry with the support of ECOWAS. In the early 1980’s the banking industry in West Africa was dominated by foreign and state-owned banks. There were hardly any commercial banks in West Africa owned and managed by the African private sector. ETI was founded with the objective of filling this vacuum. 

The Federation of West African Chambers of Commerce promoted and initiated a project for the creation of a private regional banking institution in West Africa. In 1984, Ecopromotions S.A. was incorporated. Its founding shareholders raised the seed capital for the feasibility studies and the promotional activities leading to the creation of ETI.

In October 1985, ETI was incorporated with an authorised capital of US$100 million. The initial paid up capital of US$32 million was raised from over 1,500 individuals and institutions from West African countries. The largest shareholder was the ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund), the development finance arm of ECOWAS.

A Headquarters’ Agreement was signed with the government of Togo in 1985 which granted ETI the status of an international organization with the rights and privileges necessary for it to operate as a regional institution, including the status of a non-resident financial institution. ETI commenced operations with its first subsidiary in Togo in March 1988.

 

Today, Ecobank is the leading pan-African bank with operations in 32 countries across the continent, more than any other bank in the world. It currently operates in countries in West, Central , East and Southern Africa, namely Angola, Benin, Burkina Faso, Burundi, Cape Verde, Cameroon, Central African Republic, Chad, Congo Brazzaville, Democratic Republic of Congo, Côte d'Ivoire, Equatorial Guinea, Gabon, Ghana,The Gambia, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome & Principe, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group also has a licenced operation in Paris and representative offices in Johannesburg, Dubai and London.

The Ecobank Group is a full-service bank focused on Middle Africa. It provides wholesale, retail, investment and transactional banking services to governments, financial institutions, multinationals, local companies, SMEs and individuals. 

Ecobank’s services are delivered by three customer-focused business segments, Corporate Bank, Domestic Bank and Ecobank Capital all of which are supported by an Integrated IT platform operated by eProcess, the group’s technology subsidiary.

Corporate Bank provides financial solutions to global and regional corporates, public corporates, financial institutions and international organizations. Products focus on pan-African lending, trade services, cash management, internet banking and value chain finance.

Domestic Bank provides convenient, accessible and reliable financial products and services to retail, local corporate, public sector and microfinance customers, leverages an extensive branch and ATM network as well as mobile, internet and remittances banking platforms.

Ecobank Capital provides treasury, corporate finance and investment banking, securities and asset management solutions to corporate and governmental customers. Ecobank also operates within Ecobank Capital a Research team based on the ground in key markets, provides unique information support capabilities.

 

Ecobank operates as “One Bank” with common branding, standards, policies, processes to provide a consistent and reliable service across its unique network of 1,151 branches, 1,487 ATMs, and 2,151 POS machines servicing 8.4 million customers. We have an integrated information technology platform, with all of our operations successfully migrated onto a single core banking application: Oracle FLEXCUBE. With 23,350 employees as at end of 2011, the Group is the largest employer of labor in the financial sector industry in Middle Africa.

Sustainability is at the core of our mission and vision of building a world-class pan-African bank that contributes to the integration and socio-economic development of the continent. We take the view that the long-term success of Ecobank is intertwined with the sustainable development of the economies, societies and environment that we operate in. 

In 2011, the Group adopted an integrated and comprehensive approach to sustainability and created a common framework. The framework depicts sustainability such that our business operational model ensures effective, efficient and sustainable utilization of economic, social, human and natural capital. This framework reflects our commitment to drive economic transformation in Africa while protecting our environment by being a socially responsible financial institution with a world class professional. Each strand forms the building block for our integrated sustainability.

 

      EcoBank (CEO) Arnold Ekpe

Ecobank Today

Ecobank is the leading pan African banking group in Africa with a presence in more African countries than any other bank.

We currently operate in 30 African countries, namely: Benin, Burkina Faso, Burundi, Cape Verde, Cameroon, Central Africa Republic, Chad, Congo, Côte d’Ivoire, DR Congo, Gabon, The Gambia, Ghana, Guinea Bissau, Guinea Conakry, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Tanzania, Togo, Uganda Zambia and Zimbabwe . In all the markets in which we operate, we are recognized as one of the leading banks, providing a full range of wholesale, retail, commercial, investment and transaction banking services and products. To achieve this, we have implemented an International Technology and Shared Services Centre in Accra to provide standardized and automated transaction processing on a 24/7 basis to all affiliates of the Ecobank Group. The centre also has an integrated telecoms network which provides 24/7 connectivity, thus ensuring reliability of its products and services.

Our range of banking products and services to individuals and corporate includes:

  • Current Account
  • Savings Account
  • Cards
  • Deposit Account
  • Personal Loan
  • Car and Moto Loan
  • Mortgages (Home Loan)
  • Business Loan
  • LCs and Bills for Collections
  • Transfer and Payments
  • Foreign Exchange
  • Western Union

 

Our customers include governments and government agencies, multinational, regional, multilateral and financial institutions, local companies and medium, small and micro enterprises and consumers.

As a group, our strategy is to build scale through organic growth and acquisitions; grow our businesses in existing markets and expand into new markets, product and customer segments and, deliver improved efficiency through operational and product excellence and superior customer service. To achieve this, we have established “One Bank everywhere You Go”: Ecobank operates as “One Bank” with common brand, standards, policies and processes, which means you get a consistent and reliable service across its network of over 600 branches, offices and over 600 alliances locations.

Our objective is to create superior shareholder value. In 2007, we grew revenues by 56% to US$544 million; customer deposits rose by 89% to US$4.7 billion; profit before tax increased by 47% to US$191 million; and value added totaled US$210 million.

We are well positioned to grow revenues and expand market share by combining our broad product offering with a growing pan African presence.

In each location, our multilingual teams (English, French and Portuguese) are trained to handle all transactions of domestic, regional and international nature.

Above all, Ecobank enforces management standards and policies in the areas of ethics, anti-money laundering, conflict of interest and corporate governance. These policies and standards are periodically reviewed to reflect local requirements and changes in international practices.

Specialties:

Our focus is on providing high quality products and services to our customers who comprise of individuals, small and medium scale companies, large local corporates, parastatals, non-governmental organizations and multi-national companies.

A state of the art technology, excellent customer service and a reliable telecommunication system constitute the backbone of the Group’s product delivery strategy. In addition to the traditional products and services, Ecobank offers products and services including Internet Banking, Telephone Banking, and Ecobank Regional Cards.

Because our aim is to consistently offer our customers efficient, reliable and excellent service, the Group operates a ‘’One Bank” concept, which aims at standardizing the Group’s processes and procedures irrespective of geographical location or language differences.

 

Phone (234) 12 61 29 83 / 26 12 986
Email ecosec@ecobank.com
Website http://ecobank.com
Address Plot 161, Raufu Taylor Close, Off Idejo Street, Off Adeola Odeku Street, Victoria Island Lagos – Nigeria
Fax (234) 12 61 29 83

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