(Ecofin Agency) - This year, Ecobank Côte d'Ivoire, one of the most profitable banks on the Regional Securities Exchange (BRVM), plans to pay its executive directors CFA250 million in compensation. This is one of the decisions taken during the Ordinary General Assembly of the pan-African group's Ivorian subsidiary, held in April.
The bank, which is coming off another successful year with a record profit, is thus maintaining its generous policy of remunerating directors, in the same way as investors. In 2020, Ecobank CI paid executive directors just over CFA185 million, down the 250 million approved by shareholders. The bank attributed the situation to the disruptions related to the covid-19 pandemic. Thus, the number of committee meetings was limited to two.
As a reminder, the function allowances are paid to the directors as remuneration for their missions, under the regulatory provisions of company law in force in the OHADA area.