href=”http://http://www.ecobank.com/group/aboutus.aspx”>Ecobank Transnational Inc. (ETI) has declared a 57 percent profit increase.

The Togo-based owner of banks in sub-Saharan Africa said its profits soared to $206.8 million as it curbed losses and boosted revenue.

In a statement e-mailed by the Ghana Stock Exchange today, Ecobank indicated that Net interest income in the year through December climbed to $583.4 million from $474.8 million a year earlier.

A research analyst for SIC Financial Services Ltd., Derrick Mensah said “strong growth in revenue and efficient management of cost,” attributed to this growth. Impairment also said losses on loans and advances narrowed to $85.7 million in 2011 from $101.5 million a year earlier.

Ecobank Transnational’s shares rose 9.1 percent in Ghana to 12 pesewas by the close. In Lagos, Nigeria’s commercial capital, the stock gained 0.2 percent to 11 naira.

Ecobank Group is a full-service regional bank, employing over 11,000 staff in over 746 branches and offices in thirty (30) west, east, central and southern African states.