Page 100 - Ecobank Gambia Annual Report 2020

Financial Statements & Annual Report

Notes to the Financial Statements

for the year ended 31 December 2020 (in Thousands of Gambian Dalasis)

Below are the outstanding Placements with other Affiliates within the Ecobank Group as at year-ended December 31st
2020:

PLACEMENT WITH AFFILIATES

Ecobank Affiliates Amount (US Dollars) Amount (GMD) CCY

ECOBANK GHANA 10,000,000 484,200,000 USD

ECOBANK NIGERIA PLC 5,900,000 285,678,000 USD

ECOBANK TRANSNATIONAL INCORP 9,900,000 479,358,000 USD

ECOBANK MALAWI 4,400,000 213,048,000 USD

30,200,000 1,462,284,000

The Bank made a total revenue of GMD64.035 million from placements with Affiliates in 2020, this represents a growth
of 17% from prior year (2019). All transactions with the Affiliates are conducted at arm’s length.
Below table shows outstanding balance on Intercompany transactions with other Affiliates within the Group. This is
majorly the parent Company related to Group Shared services and Eprocess for information technology cost.

Affiliate Due From Due To
GMD’000 GMD’000
ETI 11,370 8
eProcess 7,205
Ghana - 27,639
Guinea -
Senegal - 2,383
Nigeria - 462
TOTAL 1 3,783 65
5,153 -

117,754

Transactions with key management personnel

Key management personnel have transacted with the bank during the period as follows:

2020 2019
Maximum Closing Maximum Closing
balance balance balance balance
D’000 D’000 D’000
D’000
Mortgage lending and other secured loans 26,744 - 25,239
40,732
Other Loans (staff loans) 39,246 - 65,971

65,990

98 Ecobank Gambia Annual Report 2020 www.ecobank.com