Ecobank Nigeria PLC, a local unit of Ecobank Transnational Incorporated might be shutting about 79 of its branches across Nigeria.

The bank has not confirmed nor denied the reports, however, there are serious challenges facing the pan-African lender.

In its recently released full year result for 2016, Ecobank said impairment losses on financial assets which rose by 111% to NGN221 billion compared to NGN105 billion.

The deterioration in its loan books shows that the bank is suffering from the same problem confronting many other banks in Nigeria.

The lingering impairment pile up has increased Ecobank’s total liabilities to NGN5,7 trillion compared to NGN4,1 trillion disclosed in 2015. Total asset at the end of the year also rose by 33% to NGN6,2 trillion compared to NGN4,6 trillion disclosed last year.

Read more at http://www.metronaija.com/2017/04/ecobank-may-shut-down-70-branches.html

cc: lalasticlala mynd44

Too bad

Jesuuuu! My wife's savings is in Ecobank o. I just hope it's not what I am thinking. Nigeria keeps deteriorating everyday. What's really going on?

.

Torr, oya na

bad for business!

...

Wahala dey oo

They say awoof no dey run belle, but this one go run belle.

To swallow Oceanic Bank no be moimoi.

Ecobank inherited so many Oceanic Bank Branches.

so what will happen to my pension account?

They will still have more branches left than many banks combined.

metromediaboss:
Ecobank Nigeria PLC, a local unit of Ecobank Transnational Incorporated might be shutting about 79 of its branches across Nigeria.

The bank has not confirmed nor denied the reports, however, there are serious challenges facing the pan-African lender.

In its recently released full year result for 2016, Ecobank said impairment losses on financial assets which rose by 111% to NGN221 billion compared to NGN105 billion.

The deterioration in its loan books shows that the bank is suffering from the same problem confronting many other banks in Nigeria.

The lingering impairment pile up has increased Ecobank’s total liabilities to NGN5,7 trillion compared to NGN4,1 trillion disclosed in 2015. Total asset at the end of the year also rose by 33% to NGN6,2 trillion compared to NGN4,6 trillion disclosed last year.

Read more at http://www.metronaija.com/2017/04/ecobank-may-shut-down-70-branches.html

cc: lalasticlala mynd44

Another set of thousands youths to join the unemployed class very soon... God save Nigeria.

Don't get it wrong...just to serve you better. Better than declaring frivolous paper profit.

I've been trying to close my accounts with them for 3wks+ now. Them no gree.

One of their branch in electronics section in Alaba have notify us

make I go comot my money from their pigeon hole b4 dry do me strong like Sarakis society general bank.Mondsy morning, no time

Ecobank! Is dah1 a bank

THE BANK IS GOOD TO GO.
CUSTOMER BANKERS RELATIONSHIP IS ZERO, SO HOW DO THEY INTEND TO MAKE PROFIT WHEN THEIR CUSTOMERS ARE LEAVING THEM FOR LACK OF COMMITMENT?
OCEANIC WAS FAR BETTER, ECO IS A FAILED BANK FROM THE ON-SET

No one is sacking but optimizing them to other branches to serve you better.

Oyinda32:



Another set of thousands youths to join the unemployed class very soon... God save Nigeria.

am not surprised at all..... i saw this coming.
bad for them sha

That one nah bank?? Just like keystone and micro finance bank

careytommy7:
so what will happen to my pension account?

Closing with d Eco bank branches

Oyinda32:



Another set of thousands youths to join the unemployed class very soon... God save Nigeria.

As if the labour market is not saturated enough.. very unfortunate.

Shut down 79 branches, ie nothing less than 200 jobs will be lost.
The banking job is really at the receiving end of this government, probably because their are very few hausa fulanis in the sector.
My opinion o, before the sympathizers of this tribes start calling for my head.
Lol

how safe is the next bank that you're moving too?

Viking007:
I've been trying to close my accounts with them for 3wks+ now. Them no gree.

Unemployment on the increase!

let's say average of 20 staffs at each of the branches..

Mathematically,

20*79 = 1,580 staffs to join the Unemployed.... Jesu!

Viking007:
I've been trying to close my accounts with them for 3wks+ now. Them no gree.

YES, THE BANK IS NOT GOOD IN ANYTHING. I CLOSED THREE OF MY ACCOUNTS AND INSTRUCTED THEM TO TRANSFER THE MONIES INTO ONE OF THE ACCOUNTS, FOR OVER THREE MONTHS NOW, THEY ARE YET TO TREAT THIS SIMPLE REQUEST.

THE BANK SHOULD GO…………….NICOM (INSURANCE COY) WILL REFUND CUSTOMERS IF THEY FAIL TO PAY

Serious!!! My money dey dia oo


Chineke nna!!

eyah


hope they have something to fall back on

fxck paid jobs