Its official name is Eco-  Bank Transnational Inc (ETI), it is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa serving wholesale and retail customers. It also maintains subsidiaries in Eastern and Southern Africa. ETI has representative offices in Angola, China, Dubai, France, South Africa and the United Kingdom.

Overview

ETI is a large financial services provider with offices in 36 countries around the world and presence in 36 sub-Saharan countries. As of December 2012, ETI’s customer base was estimated at 13.7 million with 9.6 million (70.2%), located in Nigeria, the continent’s most populous nation. ETI’s branch network numbered 1,305, with 1,981 networked ATMs.

Group network

By June 2014, Eco-bank Transnational had banking operations in 36 African countries, with representative offices in Angola, Beijing, Dubai, Ethiopia, South Africa and the United Kingdom:

Eco-bank Transnational has operational bank subsidiaries in the following countries, as of July 2013:

Africa

Eco-bank Angola – (Representative office in Luanda)

Eco-bank Benin

Eco-bank Burkina Faso

Eco-bank Burundi

Eco-bank Cameroon

Eco-bank Cape Verde

Eco-bank Central African Republic

Eco-bank Chad

Eco-bank Congo Brazzaville

Eco-bank Côte d’Ivoire

Eco-bank Democratic Republic of the Congo

Eco-bank Ethiopia – (Representative office in Addis Ababa)

Eco-bank Equatorial Guinea

Eco-bank Gabon

Eco-bank Gambia

Eco-bank Ghana

Eco-bank Guinea

Eco-bank Guinea-Bissau

Eco-bank Kenya

Eco-bank Liberia

Eco-bank Malawi

Eco-bank Mali

Eco-bank Mozambique

Eco-bank Niger

Eco-bank Nigeria (includes Oceanic Bank)

Eco-bank Rwanda

Eco-bank São Tomé and Príncipe

Eco-bank Senegal

Eco-bank Sierra Leone

Eco-bank South Africa (Representative office in Johannesburg)

Eco-bank South Sudan

Eco-bank Tanzania

Eco-bank Togo

Eco-bank Uganda

Eco-bank Zambia

Eco-bank Zimbabwe

Outside Africa

Paris, France – Affiliate office

London, United Kingdom – France affiliate representative office

Dubai, United Arab Emirates – Representative office

Beijing, China – Representative office

History

ETI is a public limited liability company which was established as a bank holding company in 1985 under a private sector initiative spearheaded by the Federation of West African Chambers of Commerce and Industry with the support of the Economic Community of West African States (ECOWAS). In the early 1980s the banking industry in West Africa was dominated by foreign and state-owned banks. There were hardly any commercial banks in West Africa owned and managed by the African private sector. ETI was founded with the objective of filling this vacuum.

The Federation of West African Chambers of Commerce promoted and initiated a project for the creation of a private regional banking institution in West Africa. In 1984, Eco-promotions S.A. was incorporated. Its founding shareholders raised the seed capital for the feasibility studies and the promotional activities leading to the creation of ETI.

In October 1985, ETI was incorporated with an authorized capital of US$100 million. The initial paid up capital of US$32 million was raised from over 1,500 individuals and institutions from West African countries. The largest shareholder was the ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund), the development finance arm of ECOWAS. A Headquarters’ Agreement was signed with the government of Togo in 1985 which granted ETI the status of an international organization with the rights and privileges necessary for it to operate as a regional institution, including the status of a non-resident financial institution.

ETI has two specialized subsidiaries: Eco-bank Development Corporation (EDC) and e-Process International (e-Process). EDC was incorporated with a broad mandate to develop Eco-bank’s investment banking and advisory businesses throughout the countries where Eco-bank operates. EDC operates brokerage houses on all 3 stock exchanges in West Africa and has obtained licenses to operate on the two stock exchanges in Central Africa: the Douala Stock Exchange in Cameroon and the Libreville Exchange in Gabon. The mandate of e-Process is to manage the Group’s information technology function with a view to ultimately centralizing the Group’s middle and back office operations to improve efficiency, service standards and reduce costs.

Subsidiaries

The Specialized subsidiary companies of Eco-bank include the following:

EBI SA Groupe Eco-bank – Paris, France

EBI SA Representative Office – London, United Kingdom

Eco-bank Development Corporation (EDC) – Lomé, Togo

EDC Investment Corporation – Abidjan, Côte d’Ivoire

EDC Investment Corporation – Douala, Cameroon

EDC Securities Limited – Lagos, Nigeria

EDC Stockbrokers Limited – Accra, Ghana

Eco-bank Asset Management – Abidjan, Côte d’Ivoire

E-Process International SA – Accra, Ghana

Eco-bank Asset Management Company P/L – Harare, Zimbabwe