APA – Douala (Cameroon) Ecobank’s Cameroonian subsidiary, which has been engaged in a restructuring exercise that resulted in the closure of some of its agencies and the retrenchment of some of its workers has categorically denied claims that it was planning to leave the country.
“I officially deny this claim. We are currently the 4th largest bank in Cameroon, with profits before tax at the end of 2016 of CFA13.8 billion and a return on equity of 50 percent” Ecobank-Cameroon’s CEO Gwendoline Abunaw said.
Although she acknowledged that the bank is undergoing restructuring, Abunaw claimed the exercise is “intended to better serve customers.”
“Ecobank has decided to embark on the international movement of abandoning traditional banking-which is now out-of-date– to go digital on the international markets,” she explained.
In view of this, the digitization of the bank is aimed at “bringing our banking services closer to the masses by providing platforms that will capture populations who have no access to bank services.”
This means that beyond its 250,000 customers, Ecobank wants to gain a market share in Cameroon’s financial sector with an estimated two million people.
For the bank’s executives, with a network of 22 branches and sales outlets in nine of the ten regions and 68 ATMs throughout Cameroon, digitalization has instead extended the offer of services to customers.