News Column

Ecobank Gets Medium Tier Bank Ranking

August 1, 2014

THE Central Bank of Kenya has clarified that Ecobank Kenya is still a mid-sized bank contrary to an earlier communication on its 2013 annual bank supervision report.

The CBK had reported that the bank's weighted composite index is 0.95 per cent, which ranked it in the small bank's category.

In a letter to Ecobank dated July 30, CBK's banking supervision department said that based on the weighted composite index, the market share for the bank was 1.15 per cent by last December. As a result, Ecobank was classified as a medium bank.

"The bank recently started investment services through Ecobank Capital. Investment banking will complement other commercial banking services," country managing director, Ehouman Kassi said.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters