Credit: Kekeli K. Blamey
Ecobank Group has announced its unaudited financial results for the first half of 2025, recording a 23% year-on-year increase in profit before tax to US$398 million—underscoring the strength of its pan-African business model amid prevailing economic uncertainties across key markets.
The Group’s revenue grew by 12% to US$1.1 billion, while efficiency gains saw its cost-to-income ratio improve to 49.1%, the lowest in over a decade. Customer deposits also rose by US$3.4 billion to US$23.9 billion, with 83% of the deposit base in low-cost current and savings accounts.
Jeremy Awori, Group Chief Executive Officer, attributed the results to disciplined execution of the bank’s Growth, Transformation, and Returns (GTR) strategy, alongside the resilience of its diversified operations.
“Our first-half performance demonstrates the competitive advantage of our integrated business lines and geographic footprint. We remain focused on driving sustainable growth, operational excellence, and value creation,” Mr. Awori stated.
The Corporate and Investment Banking (CIB) division recorded the highest growth, with profit before tax rising by 44% to US$323 million. This was supported by enhanced asset and liability management, coupled with strong demand for trade finance and foreign exchange services. The Consumer and Commercial Banking (CCB) segment achieved a 10% increase in profit before tax to US$216 million, driven by continued expansion across SME and affluent customer segments.
Regional contributions remained robust. The Francophone West Africa region posted US$176 million in profit before tax, up 12%, while Anglophone West Africa reported US$175 million, a 19% increase, bolstered by Ghana’s improved performance. Profit before tax in Nigeria surged by 45%, reflecting early signs of recovery despite macroeconomic headwinds. Central, Eastern, and Southern Africa recorded a 27% increase to US$207 million.
Asset quality strengthened further, with the non-performing loan (NPL) ratio declining to 5.7% from 6.7% at the end of 2024. The Group also maintained a strong capital position, with buffers approximately 300 basis points above regulatory requirements.
Ecobank continued to scale its technology and customer experience platforms during the review period. A strategic partnership with Google Cloud—the first of its kind by an African banking group—was announced to bolster data infrastructure, security, and payment innovation.
Additionally, the Group invested in expanding its service infrastructure, including the deployment of hundreds of new ATMs and upgrades to loan management, digital banking, and wealth management platforms.
“As we approach Ecobank’s 40th anniversary, we remain committed to building a digitally enabled, customer-centric banking institution that supports financial inclusion and long-term value creation across Africa,” Mr. Awori noted.
