Ecobank group signs loan agreement with two institutions

ABUJA, Nigeria: July 11 (Xinhua) — Ecobank Transnational Incorporated (ETI), parent company of Ecobank Group, has announced it signed a 40.7 million euro seven-year loan facility agreement with two international development institutions to develop the bank’s systems and technology infrastructure.

The agreement was signed on June 29, in Lome, Togo by Ecobank, PROPARCO, the subsidiary of the French Development Agency and the Belgian Investment Company for Developing Countries (BIO), the bank statement reaching Xinhua on Wednesday said.

The statement said the facility will serve 9 million retail, local corporate, public sectors and micro finance customers, through 1,180 branches, 1,632 Automated Teller Machines, and 2,744 Point of Sales.

Arnold Ekpe, the bank’s Group Chief Executive Officer was quoted as saying the investment “demonstrates our ongoing commitment to enriching the bank’s customer experience through investments in systems, technology and processes.” (Xinhua)