RISING TO

THE CHALLENGE

ECOBANK GROUP ANNUAL REPORT

2020

RISING

TO THE CHALLENGE

ECOBANK GROUP

ANNUAL REPORT

2020

CONTENTS

CONTENTS

05 About Us

07 Our Vision and Mission

08 Ecobank: The leading Pan- African Banking Institution

10 Our Performance

  1. Our Diversified Business
    Model
  2. Our Digital Offering
  3. Ecobank Values and Pledge
  1. Group Chairman and Management
  2. A Letter from the Group Chairman

24 A Letter from the Group CEO

38 A Letter from Head, Consumer Bank

42 A Letter from Group Executive, Commercial Bank

48 A Letter from Group Executive, Corporate and Investment Bank

  1. Corporate Governance
  2. Board of Directors
  1. Directors' Biographies
  1. Directors' Report
  1. Group Executive Committee
  1. Corporate Governance
  1. Sustainability Report
  1. People Report
  1. Risk Management

131 Business and Financial Review

  1. Financial Statements
  2. Statement of Directors' Responsibilities
  3. Auditors' Report

167 Consolidated Financial Statements

172 Notes to Consolidated Financial Statements

282 Statement of Value Added

  1. Five-yearSummary Financials
  2. Parent Company's Financial Statements

289 Corporate Information

3

ECOBANK GROUP

ANNUAL REPORT 2020

SUPPORTING

WOMEN

IN BUSINESS

Our 'Ellevate' programme supports women-led/owned/focused businesses with collateral-lite funding options, smart cash management, mentoring, networking and other support. Targeting this largely untapped sector offers us huge growth opportunities.

The female economy is a critical one. Women constitute roughly half of the population in Africa. One-in-four female adults in Africa starts or manages a business, making the continent one of the highest in terms of women entrepreneurs across the world.

The financing gap in women-led businesses in

Africa is about $42 billion and this represents a massive and attractive opportunity. We cannot truly say that we are a pan-African bank if we ignore this significant business segment. In 2021, we will support our women-owned and women-focused

SMEs with 10 per cent of our loan book.

4

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ETI - Ecobank Transnational Inc. published this content on 26 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2021 16:32:03 UTC.