Ecobank Transnational Incorporated said in a statement mailed by the firm’s Communication Director on June 23, 2016, it does not plan to close any of its subsidiaries. Ecobank is currently reviewing its business model… However, this does not in any way translate to the planned closure of any of subsidiaries.

The statement was released after a declaration made by Ecobank’s Chairman Emmanuel Ikazoboh and reported by Reuters. “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,” said Ikazoboh.

Despite Uku’s statement, the group admitted that, under its revision process, it could exit some products from its markets or close some branches, but in case would fully exit any country as this is highly complex. “The closure of any Ecobank subsidiary would require a thorough situation analysis and approval by the Board of Directors and shareholders of Ecobank,” said Uku.

Ecobank is present in 36 African countries and is currently the largest group across the continent.