Pan-African group Ecobank is looking to get rid of its unprofitable units in order to focus on more promising markets, Reuters reported on June 20, citing Ecobank’s chairperson, Emmanuel Ikazoboh.

“The business model whereby we are just expanding and posting our flags (in different countries) has to be reconsidered,” said Ikazoboh indicating that the bank ranks the 36 countries where it is present according to their potential. “In the last pocket of least promising countries, we really want to take a decision as to whether we continue to operate in those markets,” he added, saying decisions would be taken within months.

According to sources close to the bank and cited by Reuters, Ecobank could indeed leave some minor markets in East and Central Africa as well as markets with not much potential such as Sao Tome and Principe.

Also, Ecobank’s spokesperson, Richard Uku revealed that the group plans to increase its shares in the Nigerian and Kenyan markets and hopes to benefit from Rwanda’s rapid economic growth.

Mr. Ikazoboha indicated in this regard that Ecobank’s main shareholders, namely South African Nedbank and Qatar National Bank, would contribute to the group’s expansion in Southern and Northern Africa.

Ecobank was driven to change its business model as its main financial indicators degraded. These indicators include pre-tax profit which dropped to $205 million in 2015 from $520 million the year before.