Bloomberg News

Ecobank Ghana Climbs to 3-Month High as Net Rises: Accra Mover

August 01, 2012

Ecobank Ghana Ltd. (EBG), the biggest lender by assets in the West African nation, rose to the highest in more than three months after saying first-half profit increased 63 percent.

The stock gained 1.7 percent to 3.05 cedis as of the close in Accra, the capital, the highest since April 26.

Net income rose to 61.3 million cedis ($31.2 million) from 37.5 million cedis a year earlier, it said yesterday. Net interest income, the money banks make from loans, more than doubled to 123.1 million cedis from 57.5 million cedis, the lender said.

To contact the reporter on this story: Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net

To contact the editor responsible for this story: Peter Branton at pbranton@bloomberg.net


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