Interest from TBs boosts Ecobank income

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ECOBANK Zimbabwe last week reported a 123,4 percent increase in profit after tax for the year ended December 31, 2017, buoyed by interest income from its investments in Treasury Bills (TBs).
The bank reported a profit after tax of $22 million, up from $9,9 million the previous year. In a statement accompanying the bank’s financial results, managing director, Moses Kurenjekwa, said the improvement was largely a result of increased net interest income.