ETI
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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…
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Africa
Ecobank inaugurates committee for new board members
Ecobank Transnational Incorporated (ETI) says it has set up a new committee to search for new board members as agreed at its extraordinary general meeting on March 3. This was contained in a statement by Odidison Omankhanlen of the bank’s Brands and Communications Department. It said that the seven member committee included two former chairmen of the bank, Gervais Djondo…
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