Ecpbank

Africa

QNB acquires an additional 11.0% stake in Ecobank, becomes largest shareholder

QNB, “One of the World’s Strongest Banks” has today announced the acquisition of an additional holding of 11.0%1 (2,047,877,260 ordinary shares) in Ecobank Transnational Incorporated (Ecobank). QNB Group’s total stake in Ecobank is now 23.5%1. The cost of this additional holding was equivalent to USD283m. Today’s acquisition was funded through existing resources and QNB will account for Ecobank as an…