Ecobank Records 43% Profit Surge, Hits N702.4bn on Stronger Revenue and Cost Efficiency

Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Nigeria and other subsidiaries across Africa, has reported a significant 43% year-on-year surge in profit, hitting N702.4 billion for the financial year ended September 2025. The impressive performance underscores the bank’s robust operational efficiency, effective cost management, and steady revenue growth across its diversified markets.

According to the group’s unaudited financial results released to the Nigerian Exchange (NGX), Ecobank’s profit before tax rose sharply from N491.1 billion in the corresponding period of 2024, reflecting the group’s resilience amid a volatile macroeconomic environment and fluctuating foreign exchange conditions across African markets.

The report showed that the bank’s total revenue increased by 38% to N2.13 trillion, driven by higher interest income, improved transaction volumes, and growth in digital banking services. The bank also recorded strong performance in its trade finance and treasury operations, benefiting from rising cross-border trade and increased client activity across its 33-country network.

Group Chief Executive Officer, Jeremy Awori, attributed the impressive results to disciplined execution of the bank’s strategic priorities, including cost optimization, digital expansion, and customer-centric innovation. “Our performance demonstrates the strength of our pan-African business model and the success of our strategic transformation. We achieved strong revenue growth across all business segments, improved cost efficiency, and maintained prudent risk management,” Awori said.

He explained that the group’s strong growth was driven by a solid increase in net interest income and non-interest revenue. Net interest income rose by 36% to N965.7 billion, supported by loan growth and higher yields on investment securities, while non-interest income grew 42% to N1.16 trillion, reflecting robust performance in payments, trade finance, and foreign exchange transactions.

Awori noted that Ecobank’s focus on digital transformation continues to pay off, as its digital channels — including Ecobank Mobile App, OmniLite, and Xpress Point agency network — accounted for over 90% of total transactions across the group. “Our continued investment in technology has strengthened our ability to serve customers efficiently and deliver value across retail, commercial, and corporate banking segments,” he added.

Ecobank’s total assets also expanded by 22% to N23.7 trillion, up from N19.4 trillion in the same period last year, while customer deposits climbed to N17.5 trillion, reflecting growing customer confidence and the bank’s strong market position. Loans and advances to customers grew to N9.8 trillion, showing improved credit demand from both the retail and corporate sectors.

In terms of regional performance, the West African operations, which include Nigeria and Ghana, remained the largest revenue contributor, accounting for 45% of group earnings. The Central, Eastern, and Southern African subsidiaries also recorded double-digit growth, supported by improved business conditions and increasing customer adoption of Ecobank’s digital products.

The Group Chief Financial Officer, Greg Davis, said the strong results reflect consistent execution of Ecobank’s growth strategy and effective management of currency volatility and inflationary pressures. “Despite challenges such as inflation and foreign exchange revaluation losses in some markets, our focus on sustainable profitability, operational excellence, and balance sheet resilience has delivered strong results,” Davis noted.

Ecobank also reported improvement in key financial ratios, with cost-to-income ratio declining to 52.4% from 58.9% in 2024, and return on equity rising to 26.8% from 20.5% a year earlier. The group’s capital adequacy ratio remained strong at 17.3%, well above regulatory minimums, underscoring its financial stability.

Industry analysts have commended the bank’s performance, noting that the results highlight the strength of its diversified African footprint and strategic investments in digital banking. Financial expert and Chief Executive of Afrinvest Consulting, Mr. Tunde Ajayi, said Ecobank’s growth momentum demonstrates the benefits of its pan-African structure and efficiency-driven operations. “Ecobank’s model allows it to capture opportunities across multiple markets while mitigating risks in any single economy. Its digital strategy has also positioned it as one of the most technologically advanced banks in Africa,” Ajayi said.

In addition to its strong financial performance, Ecobank reaffirmed its commitment to promoting financial inclusion and supporting sustainable development initiatives across Africa. The bank said it will continue to expand access to financial services for small and medium-sized enterprises (SMEs), women entrepreneurs, and underserved communities through digital and agency channels.

Awori emphasized that the group remains focused on strengthening its market leadership and delivering long-term value to shareholders. “We are confident in our ability to sustain this growth trajectory through prudent balance sheet management, innovation, and a relentless focus on customer satisfaction,” he said.

 

Ecobank’s impressive 2025 third-quarter results further solidify its reputation as one of Africa’s most profitable and forward-looking financial institutions. With continued investment in technology, human capital, and sustainability, the group appears well-positioned to maintain its strong performance and deliver consistent growth in the years ahead.