Ecobank plans to maintain agricultural sector support
Ecobank has planned to sustain its agricultural sector’s financing while using the same advancing credit criteria to the corporate clients.
Since the last year the bank has stepped up its assistance to the agriculture sector with a credit facility of 152 GH¢ million in 2014 to support the sector unlock its impending.
The bank has so far extended more than 22 GH¢ million in last 4 months to small holder farmers who are into the cultivation of maize, rice soya and others in the value chain.
At the at the Annual Meeting of bank in Accra the Mr Samuel Ashitey Adjei, the Managing Director of the bank said that the finance house would use the same exact process in the extending its credit facilities to all the sectors.
The bank is celebrating its 25 the anniversary it declared a 0.79 pesewas dividend per share.
Mr Van Lare Dosoo, the Board chairman said the dividend represented an 83.7 % rise over the 43 pesewas that were declared two years before in 2013.
This means that Eco Bank has increased share price in Ghana by 35.4 % over the previous twelve months, from GH¢5.61 as at 1st January to GH¢7.6 as at 31st of December last year.
Favorably, this compares to the expansion in Ghana Stock Exchange index of 5.4 % for the same period.
According to the Chairman, the Eco bank delivered a growth of 45 % on total income to close at 857.7 GH¢ million last year compared to 589.6 million GH¢ in 2013.
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