QNB
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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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NEWS
QNB acquires a 12.5% stake in Ecobank
QNB, “One of the World’s Strongest Banks” has today announced the acquisition of a 12.5%1 stake (both ordinary and convertible preference shares) in Ecobank Transnational Incorporated. This strategic partnership with a leading pan-African bank is a fundamental step towards QNB’s strategy of being a MEA Icon by 2017. Ecobank Transnational Incorporated (Ecobank) was set up in 1985 in Lomé, Togo,…
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