Ecobank Guinea Says 2011 Profit More Than Doubled

(Corrects figures in first paragraph to millions.)

Ecobank Transnational Inc. (ETI)’s Guinean unit said profit for the year through December rose to 71 million Guinean francs, from 30.2 million francs a year earlier.

Customer deposits increased 43 percent to 2.3 billion francs from 1.6 billion francs in 2010, the Conakry-based lender said in a statement handed to reporters in the capital yesterday.

“Loans granted increased to 1.1 billion francs from 225 million francs,” it said.

To contact the reporter on this story: Ougna Camara in Conakry at ocamara@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net

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