Ecobank’s profit before tax jumped 23% to $398m in H1 2025 as the group posted strong regional results, citing tech investments and customer growth

Ecobank’s profit before tax surged 23 per cent to $398 million in the first half of 2025, as the pan-African banking group posted solid growth despite tough economic conditions across key markets.

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The unaudited results showed net revenue rising 12 per cent year-on-year to $1.1 billion, while the cost-to-income ratio improved to 49.1 per cent.

The group also saw a $3.4 billion boost in customer deposits, reaching $23.9 billion, with 83 per cent in low-cost savings and current accounts.

“This performance reflects growing customer trust and the strength of our diversified business model,” said Jeremy Awori, Chief Executive Officer of Ecobank Group.

Ecobank’s corporate and investment banking division led the charge, with profit before tax soaring 44 per cent to $323 million.

Consumer and commercial banking followed, posting a 10 per cent increase to $216 million, fuelled by rising activity among SMEs and affluent customers.

Significantly, the group attributed its success to recent investments in digital platforms, including a strategic partnership with Google Cloud.

This collaboration, the first of its kind for an African bank, aims to enhance data architecture, cyber-security, and scalable payment systems.

“Technology, customer experience, and regional distribution were key to our improved delivery,” Awori added.

“As we approach our 40th anniversary, we remain committed to inclusion, innovation and long-term value.”

Regionally, performance was strong. Profit before tax in Francophone West Africa rose by 12 per cent to $176 million, while Anglophone West Africa, driven by Ghana, posted a 19 per cent rise to $175 million.

Nigeria saw a notable 45 per cent jump, indicating a possible recovery. Meanwhile, Central, Eastern and Southern Africa delivered $207 million in profit before tax, up 27 per cent.

Ecobank also improved its asset quality, cutting non-performing loans to 5.7 per cent from 6.7 per cent a year ago, and maintained a capital buffer well above regulatory thresholds.

The group’s positive results come on the heels of several recent strategic initiatives, including a $250 million plan to raise additional tier 1 capital and partnerships aimed at expanding financial inclusion and SME access across Africa.

“The Group’s financial performance for the first half of 2025 demonstrated resilience in the face of macroeconomic uncertainties,” Awori said.

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With enhanced digital capabilities and stable capital strength, Ecobank appears poised to continue its upward trajectory, even as economic headwinds persist in several of its markets.