Posted by DB Product Review on Friday, August 15, 2014 Under: Banks
The Pan-African bank
Mission and vision
The double destination of Ecobank Transnational Incorporated (ETI) is to assemble a world-class skillet African bank and to help the financial and fiscal mix and advancement of the African mainland.
ETI, an open restricted obligation organization, was secured as a bank holding organization in 1985 under a private part activity led by the Federation of West African Chambers of Commerce and Industry with the backing of ECOWAS. In the early 1980's the saving money industry in West Africa was ruled by remote and state-claimed banks. There were barely any business banks in West Africa possessed and oversaw by the African private part. ETI was established with the goal of filling this vacuum.
The Federation of West African Chambers of Commerce advertised and launched a task for the making of a private territorial saving money foundation in West Africa. In 1984, Ecopromotions S.a. was consolidated. Its establishing shareholders raised the seed capital for the possibility studies and the limited time exercises prompting the formation of ETI.
In October 1985, ETI was fused with an approved capital of Us$100 million. The introductory paid up capital of Us$32 million was raised from in excess of 1,500 people and organizations from West African nations. The biggest shareholder was the ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund), the improvement account arm of ECOWAS.
A Headquarters' Agreement was marked with the administration of Togo in 1985 which conceded ETI the status of an universal association with the rights and benefits important for it to work as a provincial establishment, including the status of a non-occupant monetary organization. ETI initiated operations with its first subsidiary in Togo in March 1988.
The Group today
Today, Ecobank is the heading dish African manage an account with operations in 36 nations over the mainland, more than another bank on the planet. It as of now works in nations in West, Central , East and Southern Africa, specifically Angola, Benin, Burkina Faso, Burundi, Cape Verde, Cameroon, Central African Republic, Chad, Congo Brazzaville, Democratic Republic of Congo, Côte d'ivoire, Equatorial Guinea, Ethiopia, Gabon, Ghana,the Gambia, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome & Principe, Senegal, Sierra Leone, South Africa, South Sudan,tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group likewise has an authorized operation in Paris and agent business locales in Beijing, Dubai, Johannesburg, London and Luanda.
The Ecobank Group is a full-administration bank concentrated on Middle Africa. It gives wholesale, retail, speculation and transactional keeping money administrations to governments, budgetary foundations, multinationals, neighborhood organizations, Smes and people.
Ecobank's administrations are conveyed by three client centered business fragments, Corporate Bank, Domestic Bank and Ecobank Capital all of which are underpinned by an Integrated IT stage worked by eprocess, the bunch's innovation subsidiary.
Corporate Bank gives money related answers for worldwide and local corporates, open corporates, monetary organizations and global associations. Items concentrate on skillet African loaning, exchange administrations, money administration, web managing an account and quality chain fund.
Local Bank gives helpful, available and solid fiscal items and administrations to retail, neighborhood corporate, open division and microfinance clients, powers a broad extension and ATM arrange and also portable, web and settlements keeping money stages.
Ecobank Capital gives treasury, corporate account and speculation keeping money, securities and stake administration answers for corporate and legislative clients. Ecobank likewise works inside Ecobank Capital a Research group focused around the ground in key markets, gives exceptional data help abilities.
Ecobank works as "One Bank" with normal marking, principles, arrangements, courses of action to give a reliable and dependable administration over its interesting system of 1,305 extensions, 2,426 Atms, and 13,800 POS machines overhauling in excess of 10 million clients. We have an incorporated data innovation stage, with the majority of our operations effectively moved onto a solitary center managing an account application: Oracle FLEXCUBE. With 19,565 workers as at end of March 2014, the Group is the biggest manager of work in the monetary area industry in Middle Africa.
Manageability is at the center of our mission and vision of building a world-class skillet African bank that helps the joining and financial advancement of the mainland. We take the view that the long haul accomplishment of Ecobank is interlaced with the reasonable improvement of the economies, social orders and environment that we work in.
In 2012, the Group embraced a coordinated and complete methodology to manageability and made a typical skeleton. The schema delineates manageable quality such that our business operational model guarantees compelling, proficient and economical usage of financial, social, human and characteristic capital. This schema reflects our dedication to drive monetary conversion in Africa while ensuring our surroundings by being a socially capable fiscal foundation with a world class proficient. Each one strand structures the building square for our incorporated maintainable quality
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