Ecobank, a pan-African banking group, has announced its financial results for the first nine months of 2026, showcasing a continued growth trajectory. The group reported a net banking income of $2 billion, representing a 12% year-on-year increase. Pre-tax profit also rose by 12% to $737 million. These results demonstrate the group's solid performance despite a challenging macroeconomic and geopolitical environment.
The bank's operational efficiency continued to improve, with an operating coefficient of 47.8%, surpassing its 2026 target of 48-50%. Customer deposits grew by 14% year-on-year to $27.5 billion, reflecting the trust and confidence of clients in the bank. The growth in deposits was driven by a 14% increase in current accounts and savings accounts, which make up 85% of total deposits.
Ecobank's performance was diversified across regions and business lines. The bank's pre-tax profit increased by 20% in Central, Eastern, and Southern Africa (CESA) and by 10% in Anglophone West Africa (AWA). The Corporate and Investment Banking (CIB) and Commercial and Consumer Banking (CCB) segments continued to contribute equally to the group's results.
The bank's digital banking and payment services remained key growth drivers. Income from payment activities increased by 9%, driven by investments in technological infrastructure and digital platforms. These investments aim to enhance customer experience and accelerate financial inclusion across the continent.
Jeremy Awori, Ecobank's Group Chief Executive, commented on the results, highlighting the bank's strong performance and progress in implementing its Growth, Transformation, and Returns (GTR) strategy. Awori emphasized that the bank's diversified economic model and solid deposit base have enabled it to navigate challenging market conditions.
The bank's non-performing loan (NPL) ratio remained stable at 7.5%, within its target range of 6-8% for 2026. This stability reflects the bank's rigorous credit portfolio management and risk discipline. Awori noted that while risks such as energy price volatility and inflationary pressures persist, the bank's solid foundation and development of new products and services position it for continued growth.
During the quarter, Ecobank strengthened its international presence with the inauguration of new offices in Beijing and a protocol agreement with China's interbank payment system. The bank's growth momentum is expected to continue, driven by its diversified business model, solid deposit base, and investments in digital banking and technology.
Key points
- Ecobank's net banking income reached $2 billion, up 12% year-on-year.
- The bank's pre-tax profit increased by 12% to $737 million.
- Customer deposits grew by 14% to $27.5 billion, reflecting the trust and confidence of clients in the bank.
