Ecobank Ghana Climbs to 3-Month High as Net Rises: Accra Mover
Ecobank Ghana Ltd. (EBG), the biggest lender by assets in the West African nation, rose to the highest in more than three months after saying first-half profit increased 63 percent.
The stock gained 1.7 percent to 3.05 cedis as of the close in Accra, the capital, the highest since April 26.
Net income rose to 61.3 million cedis ($31.2 million) from 37.5 million cedis a year earlier, it said yesterday. Net interest income, the money banks make from loans, more than doubled to 123.1 million cedis from 57.5 million cedis, the lender said.
To contact the reporter on this story: Moses Mozart Dzawu in Accra at firstname.lastname@example.org
To contact the editor responsible for this story: Peter Branton at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.