Annual Report 2007 - Investing In Africa

Treasury
Revenue
Assets
Contribution to Group Revenue
US$154 m
US$2,998 m
28%
Ecobank is a major player in the foreign
exchange and money markets in the countries
in which we operate. During the year, our
treasury business recorded an outstanding
performance. Total revenue was up by 70% to
US$154 million. Trading income constituted
46% of the revenue (2006: 46%) and the
remaining 54% came mainly from inter bank
activities. Treasury assets grew by 122% to
US$3.0 billion.
Technology and Operations
The group seeks to achieve efficiency, cost
effectiveness and better customer service
through a world class information technology
platform.
The group continued to build a modern technology
platform to support its activities. In
2007, a shared gateway was put in place to support
our customers, payments and ATM platforms.
In 2006, the group commenced building of the
first shared service centre in the West Africa in
Accra (Ghana). By close of 2007 a number of
middle and back office activities had been
centralized.
In 2007 the group took the decision to change
its core banking software to Flexcube. By close
of the year Ecobank Nigeria, the biggest
subsidiary, had been successfully migrated to
the new banking application. Most of the subsidiaries
are programmed to migrate in 2008.
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... The Pan African Bank