EBID Makes $4.4m Profit in 2016 Financial Year

President of EBID, Mr. Bashir Mamman IFO

The Board of Directors of EBID held its 53rd ordinary session

on Thursday, April 26 2017, at the Headquarters of the Bank in Lome, Togolese Republic.

According to the Auditors’ report which was endorsed by the Board of Directors, EBID made a profit in the amount of three million two hundred thousand Units of Accounts (UA3.2million) equivalent to four million four hundred thousand United States dollars ($4.4m).

Fielding questions from journalists after the meeting, the President of EBID, Mr. Bashir Mamman IFO, informed the press that overall, the prospects for the year were very good adding that, a forty-five million dollar ($45m) line of credit has been obtained from the Arab Bank for Economic Development in Africa (BADEA) for the financing of private sector projects.  The President further said that he was optimistic about the region’s economic prospects and mentioned the launching of the EBID fifty billion francs (FCFA50 billion) EBID debenture loan operation to raise funds from UEMOA financial markets to support the Bank’s projects in the zone.

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